Property News · November 2, 2023

Labour says 630,000 will be hit by surge in mortgage costs before 2024 elections


Long period of high interest rates expected, meaning higher costs for homeowners whose fixed-rate deals are coming to an endLabour has warned that more than half a million homeowners face a surge in mortgage costs before the local elections in England in May, as ministers battle to contain the damage from what is expected to be a long period of high interest rates.With the Bank of England widely expected to hold its key base rate at 5.25% on Thursday, the party released analysis that showed 630,000 more homeowners would be hit by higher borrowing costs before local elections next year. Continue reading…

Source : theguardian.com
Read more…Labour says 630,000 will be hit by surge in mortgage costs before 2024 elections

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