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Lewis Shaw, owner of the mortgage broker Riverside Mortgages, told The Times that mortgage lenders risk being ‘swamped’ by customers trying to secure a deal, pushing rates higher.
“I certainly did not expect to see the cheapest deals from Barclays starting with a 5.
The worry is that it sets off a self-fulfilling spiral again where customers start diving in to try and secure deals, lenders get swamped and their only way to turn off the tap is to increase rates, and on it goes.”
