Leader of the opposition Keir Starmer has seen his mortgage hit by rising interest rates, he told ITV News.
Labour Leader Starmer said his mortgage had already increased by “a number of hundreds of pounds” due to being on a variable rate.
Starmer has been a vocal critic of the Government’s economic policy that now looks certain to leave many homeowners facing hikes to their mortgage either now or when their fixed rates come to an end.
Yesterday he pledged to create a nation of homeowners should Labour win the next General Election. He said 70% of Brits should own their own home and promised to bring in a new mortgage guarantee scheme for first-time buyers.
Starmer told ITV News: “My mortgage has gone up because we’re on a variable rate. It’s gone up by a number of hundreds of pounds.
“But I’m not pleading a special case on my behalf; I’m thinking of the millions of people who are really up against it with their mortgage, their prices going up, with their pensions, with their energy bills.
“I was speaking to my sister last night who is a care worker. Because of her rising prices, she was really, really anxious about the situation. She’s not alone.”
Starmer’s calls for Government action on the ongoing economic crisis join those of a crescendo of economists, mortgage experts and politicians calling for an intervention.
Between yesterday and this morning, some 935 mortgage products were withdrawn according to Moneyfacts.
With more withdrawals today it now looks like that figure will be well in excess of 1,000 by tomorrow.
A YouGov poll conducted yesterday found that 47% of Brits think a Labour Government is the most likely result of the next General Election.
A further 26% believe yet another Conservative Government is the most likely outcome.
The next General Election is currently scheduled for no later than January 2025.
