The two men in charge of the nation’s finances have refused to say whether or not they have been affected by the rise in mortgage rates HugoGye and eleanormia report:
Mr Hunt has previously said that he has had a mortgage but the Treasury would not say whether he still does. He bought a London home in 2010, when he became an MP, and also has a Sicilian holiday home. The Chancellor was an entrepreneur before his Commons career and earned £14m from selling the firm he founded. He has invested in a number of rental properties in the UK.
Sir Keir said during an interview last month: “We have a mortgage and ours has just gone up.” He lives in north London with his family and was a criminal barrister in his previous career, rising to become the Director of Public Prosecutions. Last year he sold a home in Surrey, where his parents lived before their death and looked after donkeys on the land nearby. He is now understood not to own any properties other than his family home.
The shadow Chancellor, Ms Reeves, divides her time between London and Leeds. She has previously said that she owns the London home with a mortgage and rents in Leeds, where she is an MP. A spokesman confirmed that she still has a mortgage on her property. The cost of servicing a mortgage has dramatically increased over the past 18 months as the Bank of England raises interest rates in a bit to combat stubbornly high inflation. The average five-year fixed-rate deal now has an interest rate of 6 per cent.
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