Tag Archives: mortgage

Three in four blame Kwasi Kwarteng budget for higher mortgages

By NewsHound | Thu 6th October 2022 - 11:59 pm

New polling commissioned by the Liberal Democrats has revealed three in four (75%) blame the Government’s budget for higher than expected mortgage rates.

The findings reveal even the majority of Conservative voters (68%) blame the expected rise in rates on the Government’s budget last month, which sent the financial markets into turmoil.

The Bank of England is expected to raise interest rates to as much as 6% next year, adding considerable costs to mortgages. This week Moneyfacts reported the typical two year fixed rate mortgage has topped 6% for the first time in 14 years.

Those who own their home with a mortgage also blame the likely rise on rates on the Government’s budget (76%).

30 September 2022 – today’s press releases

By Mark Valladares | Fri 30th September 2022 - 10:30 pm

Truss urged to hold mortgage lender summit in Number 10 as millions left in “anxious limbo”
OBR forecasts: Economy left “flying blind” for two months
Calls reiterated for Welsh Government to Close Qatar Offices After Death of British National

Truss urged to hold mortgage lender summit in Number 10 as millions left in “anxious limbo”

The Liberal Democrats are urging the Prime Minister Liz Truss to host an emergency summit with mortgage lenders in Number 10 this weekend, instead of heading off to Conservative Party conference.

The call comes as hundreds of mortgage products have been withdrawn from sale since the Government presented its mini budget last week.

Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

The Conservatives have plunged our country into an economic crisis and what’s worse is that the damage is purely self inflicted.

Rather than head off on a jolly to party conference this weekend, Liz Truss should hold an emergency meeting with mortgage lenders in Number 10 to fix the chaos caused by her budget.

Millions of people are being left in an anxious limbo. Some are struggling to get the mortgages they need to get on the housing ladder while others are being left worried sick about losing their homes, all because of this Government’s catastrophic failure.

It would be unforgivable for Conservative ministers to sit around talking amongst themselves instead of taking action to sort out this mess.

The buck stops with the Prime Minister, she must not leave innocent mortgage borrowers to pick up the bill.

Posted in News and Press releases | Also tagged budget, ed davey, jane dodds, qatar, sarah olney and torture | Leave a comment

LibLink: Wera Hobhouse on green mortgages

By The Voice | Fri 13th May 2022 - 12:56 pm

Wera Hobhouse has been writing for The House Magazine under the headline “A green mortgage drive could upgrade our leaky homes and slash household bills“.

She writes:

With household bills soaring, those hit the hardest are families living in the leakiest homes. Green mortgages could combat the UK’s leaky homes and bring down household bills in the long-run.

Research shows that households living in homes with an Energy Performance Certificate (EPC) rating of D or worse will be paying an average of £470 per year more than homes rated EPC C or better. That’s more than the average annual UK water bill.

It seems many banks now offer various incentives, including lower mortgage rates, to homeowners who either buy energy efficient homes or who borrow to fund upgrades. However they are still only a small proportion of mortgages.

Wera says:

Posted in LibLink | Also tagged green mortgage and wera hobhouse | 3 Comments