The first buyer was met with gasps from the Question Time audience


She continued: “They say ‘you should immediately consider applying because if you don’t lenders might even withdraw those offers’.”

At that, Lord Karan Bilimoria, who was a member of Thursday’s Question Time panel, shook his head with a look of solemn disbelief.

The audience member added: ‘For me now, as a first time buyer, I don’t think I can now afford to get a mortgage.

It was also revealed that the drastic change in her offer was made in less than a week, as she confirmed the decision had been made ‘since Friday’, when Liz Truss and Kwasi Kwarteng made their Tax cut mini-budget announcement.

Since then the the pound fell to historic lows and interest rates have soared, raising fears that the proposals could add to debt and stoke inflation.

Efforts to calm the markets in the wake of the mini-budget were underway as the Prime Minister and Chancellor announced they had met the head of the Office for Budget Responsibility (OBR) on Friday morning.

Following the meeting, the OBR confirmed that it would provide Mr. Kwarteng with an initial forecast on October 7 which “will, as always, be based on our independent judgment on the economic and fiscal outlook and the impact of government policies”.

“As a first-time buyer, you can’t do that”

Pressed by Question Time host Fiona Bruce to find out more about this ‘amazing leap’, the viewer said: ‘I was given the original fare about two weeks ago, we were so in the process of getting all the documentation together.

“And today I was told that the lenders were withdrawing those offers, those offers are no longer there.”

When the host asked if the lenders had an explanation for why they were pulling the initial rate, she replied, “They just say the lenders are pulling the offers, that’s all, they didn’t say anything d another and they said ‘Now the best offer we have is around 10.4%.”

“As a first-time buyer, you can imagine it’s almost like you can’t do it,” she added.

Crunch meeting with the OBR a “very good idea”

Meanwhile, a minister has defended Ms Truss’ decision to meet an independent financial watchdog for Mini Budget talks after arguing that the £45billion package of tax cuts was the ” good plan” for the economy.

Asked if the Prime Minister’s meeting with the Office for Budget Responsibility demonstrated the scale of the crisis, Treasury Minister Andrew Griffith told Sky News: ‘It seems to me a very good idea that the Prime Minister and Chancellor sit with the independent OBR – just like the independent Bank of England they have a very important role to play.

“We all want forecasts to be as fast as possible, but also as a former CFO, I also know you want them to have the right level of detail.”

Asked about reports that the OBR might have made a forecast in time for the mini-budget, Mr Griffith said: “That forecast would not have had the growth metrics in that plan. They were being finalized. in the hours preceding the chancellor’s dismissal.”

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