“Blue wall” seats in the South-East of England are set to take the largest financial hit from the hike in mortgage rates due to high levels of borrowing in the area 🔴HugoGye ChaplainChloe poppyeh report ➡️
own constituency of South West Surrey has 11,600 households remortgaging at a potential cost of £5,600 each, making it one of the most heavily affected areas.
Conservative MP Bob Stewart, whose Beckenham seat has 10,600 families needed to take out a new mortgage and an average cost of £5,900, pleaded with ministers to double down on their efforts to reduce living costs. He said in the House of Commons: “I’m getting huge numbers of constituents coming to me about the mortgage changes. They are absolutely terrified. I know the Government is doing all it can – can I ask the Government to redouble its efforts because this is going to have a huge impact on cost of living?”
Rachel Reeves, the shadow Chancellor, warned Mr Hunt that the two seats Labour is hoping to win in upcoming by-elections were also facing a major financial hit. She said: “In Selby and Ainsty, 12,000 households will be paying, on average, £2,700 more on their mortgage. In Uxbridge and South Ruislip, 10,000 households will be paying, on average, £5,200 more. Each and every family know who is responsible for trashing the economy: the Conservative party.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thunderstorm weather warning issued by Met Office for East of EnglandThe thunderstorms could lead to 'difficult driving conditions and some flooding', the Met Office says.
Read more »
Met Office issues two yellow warnings for thunderstorms covering south and eastThe Met Office has warned of transport disruption
Read more »
Rishi Sunak caught making joke about transgender women in leaked videoRISHI Sunak has been caught making a joke about transgender women to Conservative MPs in leaked footage seen by the public for the first time.
Read more »
Rishi Sunak 'to skip vote' over banning Boris Johnson from Parliament for misleading MPs about PartygateRishi Sunak is set to miss tonight's debate on the damning report that found Boris Johnson knowingly misled his fellow MPs over Partygate
Read more »
Rishi Sunak caught appearing to joke about trans people in leaked video footageRishi Sunak said 'it turns out that we need to focus on biology' after Sir Ed Davey previously told LBC that women 'quite clearly' can have a penis
Read more »