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This Is Why

Mortgages: what's the best way to plan?

This Is Why

Sky News

News, Daily News, News Commentary

4.0552 Ratings

🗓️ 10 October 2022

⏱️ 25 minutes

🧾️ Download transcript

Summary

The interest rate on a typical two-year fixed-rate mortgage has broken 6% for the first time in 14 years. The sudden rise has left first-time buyers with few affordable mortgage options, and those looking to re-mortgage facing huge increases in their monthly repayments.

On the Sky News Daily, Niall Paterson speaks to two people whose plans have had to change as a result of the uncertainty with mortgages, plus gets some advice from mortgage broker Sarah Tucker.

Editors - Philly Beaumont
Podcast producer - Rosie Gillott
Interviews producer – Alys Bowen
Digital producer - David Chipakupaku

Transcript

Click on a timestamp to play from that location

0:00.0

Uber drivers. Have you seen your pay go down while your fees to Uber go up?

0:05.0

All because of an algorithm that reduces your take-home pay, making you work more for less.

0:10.0

We believe Uber's dynamic pay and upfront pricing is unfair.

0:14.0

That's why Worker Info Exchange has launched the dynamic pay claim to seek compensation for drivers who have lost income.

0:21.4

If you've driven for Uber at any time since 2020, it's time to stand together.

0:26.8

Find out more at dynamic pay.org.

0:30.1

You turned your dating app for pets into a business, which just turned over its first billion.

0:36.1

You turned around the fortunes of a failing football club,

0:40.8

politely turned down a Nobel Peace Prize,

0:43.7

and turned up on Mars in your own reusable rocket.

0:48.8

While struggling to turn on the dishwasher,

0:52.1

there's more to imagine when you listen.

0:54.0

Discover business development titles on Audible.

0:57.2

Subscription required.

0:58.2

See audible.co.uk for terms.

1:02.5

Do you have a mortgage?

1:04.6

I do.

1:05.8

And do you have an issue about remortgaging?

1:09.1

Well, I...

1:10.2

I mean, I do have a mortgage, yes. Liz Truss can be forgiven

1:15.7

for sounding somewhat uncertain there. After all, she does have keys to multiple properties,

1:21.2

including checkers and number 10. But if an Englishman's home is his castle, then right now the barbarians are at the gates,

...

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