Christine Jardine

80,000 Scottish households face mortgage rate hike by November

Research from the House of Commons Library predicts significant mortgage increases for up to 80,000 Scottish households by November this year, coinciding with the potential timing of an election.

This study, commissioned by the Liberal Democrats, suggests that households coming off fixed-rate mortgage deals could see their monthly payments rise by an average of £240.

Christine Jardine, Liberal Democrat Scottish affairs spokesperson, has sharply criticised Prime Minister Rishi Sunak, accusing him of “ignoring people’s pain”, after the research revealed these hikes will impact 374 households a day until a potential November election.

Jardine said: “These nightmare figures for families up and down Scotland show that Rishi Sunak’s claim that his plans are working just don’t match the reality for families.

“Mortgage costs are going up every day and for thousands of families that will mean sleepless nights, difficult decisions about how to make ends meet and worse.”

She further highlighted the disconnect between voters’ experiences and Government actions, noting: “Voters feel they are being taken for granted, we have seen that reflected time and again at local elections both sides of the border and it feels as if the Prime Minister is just ignoring peoples’ pain.”

Jardine called on the Prime Minister to “face the music” and consider a general election to address the widespread discontent with his government’s approach to economic issues affecting households.