Martin Lewis gives mortgage news that ‘isn’t printed anywhere’

In a video posted to his official Twitter account, the founder of Money Saving Expert discussed some changes announced in the Autumn Statement. The financial journalist also mentioned a meeting he had with Chancellor Jeremy Hunt and shared some news about mortgages that had not yet been announced.Mr Lewis said: ‘Other news on mortgages that isn’t printed anywhere but I can tell you is that I met with Jeremy Hunt on various issues including energy and mortgages earlier in the week to give him my thoughts.’I pushed hard that we need more flexibility and forbearance in the system for mortgages for when it comes to spring and interest rates are at their peak.’That doesn’t just help those on mortgages, it helps many on rent because the people who are charging them rent have buy to let mortgages and it needs to bring in the system.’S’So on the back, he is going to call a summit with the big banks and I will be there and various others will come in.READ MORE: Universal Credit changes affecting 600,000 announced by Hunt to get people back to work Martin Lewis shares mortgage news (Image: MARTIN LEWIS TWITTER)’We will discuss what flexibility and forbearance measures can be put in place before next spring to try and help people.’During the statement, Mr Hunt announced that stamp duty cuts will only last until March 21, 2025.Speaking in the House of Commons, Mr Hunt said: ‘The OBR expects housing activity to slow over the next two years, so the stamp duty cuts announced in the mini-Budget will remain in place but only until the 21 March 2025.’Tim Bannister, property expert at Rightmove said that this could prompt a jump in sellers ‘towards the end of next year and into 2024 to ensure they can move in time”.DON’T MISSBritons could boost state pension with National Insurance contributions – how to do it [ANALYSIS]OVO Energy offers £50m support package helping over 15,000 customers – are you eligible? [INSIGHT]Britons with eye or skin conditions could get up to £150 a week via DWP benefit [INSIGHT] Interest rates are on the rise (Image: EXPRESS)The analysis assumes that mortgage rates remain high and homeowners are forced to move on to an interest rate of 5.5 percent.With a current norm of two percent, this change would mean spending 54 percent of their monthly income on housing costsThis number has increased from 38 percent.In cash terms, this equates to an average increase of £250, from £610 a month to £860 a month.