Will markets steady enough for lenders to reprice and reintroduce? – Jeremy Hunt’s statement – comment
“Jeremy Hunt’s speech is a huge U-turn for the government and basically puts us back to the position we were in before the mini budget. It is positive that the stamp duty cut will stay in place, but more important will be its effect on the markets. This was clearly a speech to bring a level of much-needed stability and confidence back. While interest rates were already on an upward trajectory, the level of rises we have seen in the past fortnight has outstripped most people’s ability to cope. We all need to hope that this speech and the next fiscal statement on the 31st October, will be enough to steady the markets enough that lenders can reprice and reintroduce the hundreds of mortgage products that necessarily had to be pulled due to market instability.”
