Lenders are pulling mortgage deals

Mortgages: Research from Moneyfacts shows that lenders pulled more than 500 deals over the last month and average interest rates have hit a seven-year high.

Average two and five-year fixed mortgage interest rates have increased for the fifth consecutive month, rising by 0.21% and 0.17% respectively.

Moneyfacts say this was the biggest monthly fall in availability since May 2020 when 626 products were pulled as a result of uncertainty caused by the pandemic. However, there are seven more 95% mortgage deals