Lorraine Kelly’s daughter Rosie has bought her first-ever home – with a reported price of £865,000.
The 28-year-old daughter of TV star Lorraine took to Instagram on Thursday and shared a snap as she posed in front of her new home in posh Islington.
Rosie was on cloud nine as she hugged a “sold” sign outside her home, which she described as “doer uppers.”
Homeowners: Lorraine Kelly’s daughter Rosie has bought her very first home – with a reported price of £865,000
She wrote: “Finally. It will be a long time before @rubyisasausage and I move in because we have quite a maker upper!’
She wrote: “Finally. It will be a long time before @rubyisasausage and I move in as we have quite the maker upper!
“So that’s a warning that this page will be full of interiors and constant questions about my stories about which grip to choose!”
Chat show host Lorraine commented on the snap, writing: “You will make a beautiful home out of this”.
Rosie also received congratulations from Vanessa Feltz, Craig David and Dr. Amir Khan who appears regularly on Lorraine’s ITV show.
Family: Chat show host Lorraine then commented on the snap, writing: “You’re going to make a beautiful home out of this.”
According to The Sun, Rosie’s property costs £865,000 at a time when the Bank of England introduced its biggest rate hike in three decades.
Web has reached out to representatives of Lorraine Kelly for comment.
It comes as the Bank of England raised interest rates from 2.25 per cent to 3 per cent to combat rising inflation in a move that added thousands of pounds to annual unfixed mortgage bills in one fell swoop.
Alongside the measure, however, it has warned that the UK is already in recession and is likely to experience economic contraction by mid-2024.
If confirmed, it would be the longest experience in the UK since records began in the 1920s – well beyond the bank’s previous forecast of 15 months.
By 2025, the bank predicts unemployment will jump from 3.5 percent now to 6.5 percent.
Price tag: Rosie’s property costs £865,000, according to The Sun, at a time when the Bank of England introduced the biggest rate hike in three decades
Interest rates are now the highest since the global financial crisis of 2008 following the Monetary Policy Committee (MPC) 7-2 decision, the eighth straight rise.
The rise – which followed a similar announcement by the US Federal Reserve last night – is the biggest daily move since Black Wednesday in 1992, when Britain’s decision to withdraw from the exchange rate mechanism sent markets spiraling.
But the panicked Black Wednesday rate hike lasted only one day. A sustained increase of this magnitude was last recorded in 1989.
Borrowers with a £200,000 adjustable rate mortgage could see their repayments increase by more than £1,000 a year.
Following the lunchtime announcement, Chancellor Jeremy Hunt admitted the move would be “very difficult for families with mortgages across the country”.
Uh Oh: Borrowers with a £200,000 adjustable-rate mortgage could see their repayments increase by more than £1,000 a year (pictured 2021)
But he said it was necessary to act now and avoid bigger, more brutal moves in the future. It comes ahead of his autumn statement on November 17, in which he is expected to introduce drastic tax hikes and spending cuts for families and businesses in a bid to fill a £50billion black hole.
“The best thing the government can do if we want to cut these rate hikes is to show that we are deleveraging,” he told broadcasters.
“Families across the country need to balance their accounts at home, and we need to do the same as any government.”
However, there was a glimmer of good news in the darkness. Bank Governor Andrew Bailey has hinted that rates could now peak lower than forecast – analysts believe they could possibly be below 5 percent.
That means the cost of fixed-rate mortgages, which have risen above six percent, could start falling, which could help those facing a debt restructuring.
But Mr Bailey warned it was a “tough road” for the UK and households. He acknowledged that eight rate hikes since last December “are big changes and are having a real impact on people’s lives.”
Career: Following in her famous mother’s media footsteps, Rosie has worked as a freelance journalist and producer