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Economics

UK Mortgage Turmoil Threatens a 70% Surge in Average Costs

  • Bloomberg Economics estimates monthly cost could reach £1,325
  • New-build home price could fall 15% in 2024, Citi’s Galla says
     

     

Photographer: Hollie Adams/Bloomberg
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Tremors are continuing to ripple through the UK mortgage market despite the Bank of England’s intervention to calm financial turbulence on Wednesday.