Mortgage Nightmare Ahead: 100,000 UK Households Face £240-a-Month Hike

Research commissioned by the Liberal Democrats has revealed a shocking truth: 100,000 UK households are set to face a mortgage hike of £240 per month before July. This staggering figure translates to an additional £290 million in mortgage costs over the next year.

Mortgage rates are on the rise

The data, based on information from the Financial Conduct Authority (FCA), paints a bleak picture for homeowners. An average of 3,333 households a day are being hit with higher mortgage rates, with the Bank of England maintaining interest rates at 5.25%. This means that a typical mortgage holder will see their payments rise by £240 a month.

“This Conservative government crashed the economy and now they are condemning hard-working households to a mortgage nightmare.” - Sarah Olney, Liberal Democrat Treasury Spokesperson

The Liberal Democrats have slammed the government’s economic plan, calling it a “parallel universe” that ignores the harsh reality faced by families. The party claims that the Prime Minister is set for a “blue wall reckoning” in key battleground seats, where voters are fed up with the government’s handling of the economy.

Mortgage payments are set to rise

The data highlights the worst-affected areas, including Liberal Democrat-Conservative battlegrounds such as Taunton Deane, Tewkesbury, and North East Cambridgeshire. With the General Election looming, the Liberal Democrats are calling on the government to take action to address the mortgage crisis.

The clock is ticking for the government

As the election approaches, the Liberal Democrats are urging voters to hold the government accountable for their economic policies. With mortgage rates on the rise, it’s clear that something needs to change.

“Rishi Sunak’s claim that the government’s plan is working shows he is living in a parallel universe, as every day thousands of families are seeing their mortgage go up by eye-watering amounts.” - Sarah Olney, Liberal Democrat Treasury Spokesperson

The Liberal Democrats are calling for a change in direction, one that prioritizes the needs of hard-working families over the interests of the wealthy few. As the election approaches, it’s clear that the mortgage crisis will be a key issue on the minds of voters.

It’s time for a change