Some of the UK’s biggest mortgage lenders have stopped offering new home loans in response to the market volatility triggered by the government’s mini-Budget.
Lenders including Virgin Money and Skipton Building Society have halted lending, while Halifax is withdrawing a range of new home loans.
“This is the first time we have seen a major withdrawal of products and repricing in the mainstream market since the global financial crisis,” said Ray Boulger, an analyst at mortgage broker John Charcol.
