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Mortgage turbulence continues as HSBC pulls deals and Nationwide raises rates – business live

HSBC temporarily removes mortgage products for new customers, as borrowers face higher rates

The UK’s cost of living crisis has driven down sales on the high streets, which turned negative for the first time in more than two years

Total like-for-like retail sales, combining in-store and online, fell by 1.5% overall compared with last May, according to business advisory firm BDO’s latest High Street Sales Tracker.

“With three bank holidays last month and the fact that footfall has increased compared to this time last year, these results highlight the huge pressure on the consumer purse.

“The drop in online sales is also stark, recording the worst online sales results on record with the exception of the months impacted by the Covid-19 pandemic.”

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Please note that all views in posts that are not from the BSL Editorial Team are not opinions of the company and do not represent us in any form. All Non-Editorial articles are intended to be purely informational and should not be treated as fact.

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