Written Question·Treasury·UIN 26880

Mortgages

Tabled: 28 January 2025

Answered: 4 February 2025

Question

Blake Stephenson

To ask the Chancellor of the Exchequer, if she will make an estimate of the average annual cost of a five year fixed rate mortgage (a) on the week commencing 21 October 2024 and (b) in January 2025.

Answer

Emma Reynolds

The pricing and availability of mortgages is ultimately a commercial decision for lenders, in which the Government does not intervene. Changes in offered mortgage rates are broadly driven by changes in financial market expectations for Bank Rate.Monetary ...

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