First-time buyers were met with gasps from the Question Time audience

She continued, “They say, ‘You must immediately check whether you make your application because if you don’t, the lenders may even withdraw those offers.'”

Lord Karan Bilimoria, who was a member of Thursday’s Question Time, then shook his head with a grave look of disbelief.

The viewer added, “For me as a first-time buyer, I don’t think I can afford to get a mortgage right now.”

It was also revealed that the steep change to her bid was made in less than a week, as she confirmed the decision was made “since Friday” when Liz Truss and Kwasi Kwarteng made their tax-cut mini-budget announcement.

Since then, sterling has fallen to record lows and interest rates have soared, raising concerns the proposals will boost debt and fuel inflation.

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

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

“As a first-time buyer, you can’t”

Urged by Question Time moderator Fiona Bruce to learn more about this “extraordinary leap”, the listener said: “I received the original rate about two weeks ago so we were in the process of sourcing all the documentation together.

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

When the hostess asked if the lenders had any explanation as to why they are pulling the initial rate, she said, “They just say the lenders are pulling the offers, that’s it, they didn’t say anything else and they said ‘Now is the best supply that we have at about 10.4 percent.”

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

Crunch meeting with OBR a “very good idea”

Meanwhile, a minister has defended Ms Truss’ decision to meet with an independent financial watchdog to discuss the mini-budget after arguing that the £45bn package of tax cuts is the “right plan” for the economy be.

Asked whether the Prime Minister’s meeting with the Office for Budget Responsibility showed the extent of the crisis, Finance Minister Andrew Griffith told Sky News: “It seems to me a very good idea that the Prime Minister and the Chancellor should address the issue Assemble independent OBR – Just like the independent Bank of England, they have a really important role to play.

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

Asked about reports that the OBR could have forecast in time for the mini-budget, Mr Griffith said: “That forecast would not have included the growth measures in this plan. They were completed in the hours before the chancellor got up.”

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