Prime Minister Rishi Sunak has ruled out Government intervention to help homeowners struggling with soaring mortgage costs.
Over the weekend Housing Secretary Michael Gove said the Government was monitoring the situation but warned that any intervention could do more harm than good.
The Liberal Democrats have been calling for a mortgage protection scheme providing Covid style handouts to mortgage holders.
But former Bank of England deputy governor Sir Charlie Bean said such a move would be “risky“.
Is the Government going to do anything to help people who are facing increases in their mortgage rates? @GMB questioned @RishiSunak who said: 'We've got to stick to the plan.' pic.twitter.com/oSqDT8fVuX
— Good Morning Britain (@GMB) June 19, 2023
Sunak told Good Morning Britain: “I know the anxiety people will have about the mortgage rates, that is why the first priority I set out at the beginning of the year was to halve inflation because that is the best and most important way that we can keep costs and interest rates down for people.
“We’ve got a clear plan to do that, it is delivering, we need to stick to the plan.
“But there is also support available for people. We have the mortgage guarantee scheme for first-time buyers and we have the support for mortgage interest scheme which is there to help people as well.
“But look, that is why my first priority is to halve inflation, one of my other priorities is to cut the waiting lists.”
