UK's Kwarteng to meet banks over pulled mortgage products - report

UK Finance Minister Kwasi Kwarteng will hold talks on Thursday with major lenders amid concerns about the impact of recent market turmoil on mortgage provision, Sky News reported citing unnamed sources.

Kwarteng is expected to quiz lenders on their plans after hundreds of mortgage products were pulled in response to his poorly received mini budget 10 days ago, earning him the nickname “KamiKwasi” on social media in reference to the reaction from financial markets to his unfunded tax cuts.

Sources reportedly said executives from Barclays, Lloyds Banking Group and NatWest were among those expected to attend.

People briefed on the agenda for Thursday's meeting with Kwarteng said it would also address the economic growth plans announced since he was appointed as finance minister last month, Sky reported.

Reporting by Frank Prenesti at Sharecast.com