Mortgage market mayhem

Chatting to Evan Davis on PM

Following last weeks mini-Budget there has been turmoil in the money markets. On Tuesday 1000 mortgage products were withdrawn as lenders try to re-price their offerings as bank base rates head towards 6%.

12 months ago you could get a 2 year fixed rate mortgage for 1.6%. Today the Nationwide is quoting 5.59%! Is this a blip or is this the new norm?