One of the UK’s largest house-building companies, Taylor Wimpey, has warned that soaring mortgage rates are now affecting the ability of potential customers to buy a new home.
The company posted a slump in sales and earnings in the first half of the year, with revenues down 21.2 per cent to £1.64 billion ($2.09 billion), compared with the same period last year.
It also revealed that its pre-tax profit fell by 28.9 per cent to £237.7 million for the half year.