Mortgage Rates in UK Climb Again, Putting Pressure on Housing Market

12 Jun 2023 CW Team

Mortgage rates in the United Kingdom climbed again, as experts warned that growing borrowing costs will put pressure on the housing market.

According to Moneyfacts, the average rate on a two-year mortgage across all loan-to-value ratios jumped to 5.82%, up from 5.30% a month ago.

Last month's stubbornly high British inflation figures triggered a significant spike in market interest rates as investors hurried to price in further hikes in borrowing costs from the Bank of England in the coming months.

Mortgage lenders' interest rates have risen in response. HSBC temporarily withdrawn mortgage products for customers applying through brokers.

"To help ensure that new customers get the best possible service, we occasionally need to limit the amount of new business we can take each day via broker services," an HSBC spokesperson said.

HSBC stated that its mortgage products and interest rates would continue to be available to existing customers.

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..