Susanna Reid Britain city London reports experts Susanna Reid Britain city London

Martin Lewis slams government's 'nonsense' first-time buyer advice on ITV Good Morning Britain as he sets record straight

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Martin Lewis has set the record straight after the government released some 'irresponsible' advice for first-time buyers. The Money Saving Expert founder was back at the helm of Good Morning Britain alongside Susanna Reid on Monday (September 3) to offer his expert advice in a special cost of living episode.

Ever since the mini budget was announced on September 23, worry has mounted amongst homeowners and first-time buyers. Mortgage lenders have been wiping deals off the market following predictions that the Bank of England could raise interest rates to as high as 6 percent, with a record loss of 1,621 mortgage deals in less than a week, reports PA news agency.

As homeowners fear their mortgage repayments could rise by another £100 a month, first-time buyers are now worried that they will no longer be able to afford a home as rising mortgages could price them out of the market. READ MORE: Martin Lewis 'lost for words' on ITV This Morning as he struggles to give advice on UK mortgage market turmoil During his co-hosting role on the ITV programme, Martin Lewis addressed a 'nonsense' message that the Treasury had put out to first-time buyers.

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