Countries like italy and greece. when these rates go up, so do borrowing costs for corporations. retailers costs have surged increasing shopping bills and so have the costs of new mortgages. virgin money and skipton building society have halted mortgage offers for new customers. meanwhile, halifax said it had stopped mortgages with product fees. this is a concern for people like new dad aaron, whose fixed term mortgage is coming to an end just as his wife is on maternity leave, and the cost of living continues to rise. naturally, with other costs rising in terms of energy and other bills, it s going to certainly, you know, put us at a little bit more of a deficit. i guess i m picking up the entirety of the mortgage costs, as well, so, yeah, quite a lot of pressure and a big hit. the treasury tried to regain the confidence of spooked markets by announcing that more of the details and forecasts will be published towards
Circumstances and make a bespoke decision, a bespoke mortgage for yourself. decision, a bespoke mortgage for ourself. ,,. , decision, a bespoke mortgage for ourself. , ~ . ., ~ yourself. ok, sally mitchell, thank ou for yourself. ok, sally mitchell, thank you fervour yourself. ok, sally mitchell, thank you for your time. yourself. ok, sally mitchell, thank you for your time. enqueue. - yourself. ok, sally mitchell, thank you for your time. enqueue. our . you for your time. enqueue. our business correspondent - you for your time. enqueue. our business correspondent is - you for your time. enqueue. our business correspondent is with l you for your time. enqueue. our l business correspondent is with me now. there will be lots of people very worried. if you add increased mortgage costs to everything else, increased energy bills, increased food prices, that is another massive hike. . ., food prices, that is another massive hike. , ., ., ., ., hike. yes, we are going through a cost of liv
Value, the cost of these things go up. inflation will still be a problem. it is already at a very high level. all of this coming together and if you add on top of that for many people increased mortgage costs as well, you can see that it mortgage costs as well, you can see thatitis mortgage costs as well, you can see that it is going to be a very difficult yearfor many. that it is going to be a very difficult year for many. in that it is going to be a very difficult year for many. in terms of where the pound difficult year for many. in terms of where the pound has difficult year for many. in terms of where the pound has been, - difficult year for many. in terms of where the pound has been, can i difficult year for many. in terms of| where the pound has been, can you give us a sense of where it is at the moment? we keep being told there will be a lot of volatility this week. ., . , will be a lot of volatility this week. ., ., , , ., week. is roughly week. the is roughly to the a t
The end of november. meanwhile, the bank of england said it would not hesitate to raise interest rates if necessary, and would make a decision on any action in november. with the economic fallout far from over, it s shaping up to be a difficult winter for british families and businesses. vincent mcaviney, bbc news. joining me now is sally mitchell, she is a mortgage advisor and broker from the mortgage mum. thanks forjoining us. firstly, what does it mean if these mortgages are being withdrawn from the market? well, it means that if you are looking for a new mortgage, a remortgage, the pool that you are fishing from has got considerably smaller and alongside that the fish that are in that pool are much more expensive now. that are in that pool are much more exnensive ow- expensive now. how much are you exectinu expensive now. how much are you expecting rates expensive now. how much are you expecting rates to expensive now. how much are you expecting rates to go expensive now. h