After this mortgage crisis, Tories can no longer call themselves the party of home ownership 🔵 Victoria_Spratt for ipaperviews
I ask everyone I meet the same question: “if you could change one thing about your situation, what would it be?” Everyone gives a version of the same answer: “I dream of owning my own home”.
Hannah, 35, is an NHS nurse and mother of one. The mortgage repayments on the Victorian terraced cottage she bought for £270,000 in Sussex with her husband, a self-employed furniture maker, are about to jump from £890 per month to £1,400 in November when the five-year fixed rate deal they’ve had since buying their home in 2018 comes to an end. However, it could go higher.
It’s no wonder the Prime Minister is trying to absolve her government of responsibility for the growing mortgages crisis.has found that mortgage interest rates at 6 per cent will massively increase monthly housing costs for families buying with a mortgage. The JRF has also warned that if rates remain this high, an additional one million people and 300,000 families will be pulled into poverty over the next few years.
Like them, Hannah is unequivocal about who she thinks is at fault for the fact that her mortgage rate is rising.
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