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You are wrong. Just look at the graph on this page.
https://www.statista.com/statistics/386301/uk-average-mortgage-interest-rates/
The spike in Sep 2022 was a direct result of Truss' mini-budget. Mortgage rates have only slowly dropped since then.
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The Bank of England reacts to situations in the economy. High inflation following the huge capital injections as a result of covid loans and the pent up spending from lockdowns meant raising interest rates was inevitable. But the mini budget tanked the pound which wouldn't have helped to cool down price increases, and damaged the standing of the UK globally increasing the cost of government debt. The BOE reacted in response to the budget a "significant monetary policy response" which spooked the lenders, removing products from the market and driving prices up.
tldr it probably was going to happen anyhow, but the mini budget made it worse, particularly in the short run.
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We were the some of the unlucky ones timing wise. Went from a 1.6% fixed to a 4% fixed. £300 a month extra.
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Mine went up 20% (~£300). You could tell me it wasnt completely her fault, but trying to tell me it didn't happen will be trickier
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My girlfriend that was in the process of getting a mortgage at time will happily have a word with you.
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I think it's also that it was one of the first things she did (other than meet the Queen...) and it was so bad that they closed her laptop and walked her out of the building. Imagine if she had been in charge during the recent riots.
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@nono
I'm no fan of Liz truss or the conservatives but I do find the whole Liz Truss crashed the economy/Thanks to Liz truss my mortgage is £500 higher thing funny. Maybe if you were unlucky enough to have remortgaged during the 6 month period after the mini budget there is a chance you paid 0.5% to 1% more on your mortgage due to the sentiment of the mini budget.
I've heard it too many times now from intelligent people, if someone wants prove me wrong i'm happy to hear the arguement but in my mind its just people bleating on what they've been told by the media.