.BankofIrelandUK temporarily withdraws mortgage products amid financial market turmoil
Bank of Ireland UK is among lenders to temporarily withdraw mortgage products in the wake of financial market turmoil.
Danske Bank, one of the biggest lenders in Northern Ireland, said: "We are monitoring the competitive landscape closely to ensure our mortgage product offering is in line with the wider market."The Bank of England said on Monday it would "not hesitate" to hike interest rates after the pound hit record lows.
Experts said a rise in the cost of long-term borrowing meant the current cost to mortgage lenders of offering new deals was now more expensive.Owen Peden, managing director at PropertyPal Mortgages in Northern Ireland said people "were concerned" but not to panic."If your fixed rate is coming to an end in six months, act quick to secure the best rate.
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