Title reads like all banks have ceased trading mortgages, which is ludicrous. here's a BBC article with a more reasonable title:
https://www.bbc.co.uk/news/business-63041679
Apparently other currencies under pressure is a sign of
https://www.express.co.uk/news/world/1653931/eu-news-euro-cu...
Last month, the Euro fell to parity against the US dollar last month for the first time in more than 20 years. It has bounced back to €1.03 but is still massively short of the €1.18 hit nearly a year ago.
Eric Noirez, a prominent EU critic and member of the Generation Frexit campaign in France, told Express.co.uk: "The Euro is a system that has reached the end of its tether.
Their policy has consisted of massive monetary creation, and this in a totally unreasonable way ... it will lead to eurozone collapse ... The recession is obvious ... the biggest financial crisis in its history ... An absolute madness!
But when the UK currency is selling off ... https://www.express.co.uk/news/politics/1674629/Liz-Truss-cr...
Presumably all those woke traitor hedge fund managers are to blame.
'They don't believe in Britain!' Tory chairman says tax cut critics are like Remainers New Conservative chairman Jake Berry has given his first interview since being appointed 20 days ago with a broadside at the people who "don't believe in Britain".
Mortgage rates jumping from 1.5% to 6% in one year is quite a lot regardless of other people's problems. Freezing new mortgage offers during a very volatile period is understandable and also concerning.
The current situation in the UK is due to economic policy from the past 10+ years. Suppressing interest rates to nothing, and encouraging borrowing for extended periods is not fiscally responsible. Make hay while the sun shines unfortunately did not happen, so now the clouds are rolling in there is no buffer.
I'm not saying that inflation isn't a problem elsewhere, I'm saying that the issue in this scenario is that the markets are panicking due to general long term financial mismanagement and doubt over the sustainability of current policy from both the Government and the Bank of England.
My confidence in financial institutions ability to see what is clearly in front of them has been severely tested over the past few months.