Tag Archives: support for mortgage interest

Mark Valladares

9 November 2023 – today’s press releases

By Mark Valladares | Thu 9th November 2023 - 10:55 pm
  • Sharp rise in mortgage arrears should “ring alarm bells in Downing Street”
  • NHS waiting lists: Sunak’s pledge lies in tatters
  • Welsh Lib Dem leader gives her reason for voting for Senedd Gaza ceasefire motion
  • Braverman: What on earth will it take for Sunak to do the right thing?

Sharp rise in mortgage arrears should “ring alarm bells in Downing Street”

There has been an 18% rise in homeowners in mortgage arrears over the past year, the latest UK Finance figures have revealed.

The data shows there were 87,930 homeowners in mortgage arrears worth at least 2.5% of their outstanding loan in the third quarter of 2023, up from 74,420 in the same period last year.

The Liberal Democrats said the figures show families are facing “mortgage misery” and reiterated their calls for a Mortgage Protection Fund, with targeted support to prevent people losing their home, funded through scrapping tax cuts for the banks.

Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

This sharp rise in mortgage arrears should be ringing alarm bells in Downing Street.

The Conservative Party crashed the economy and is now forcing ordinary families to pick up the tab.

Homeowners facing mortgage misery should be offered a rescue scheme, with targeted support to protect those most at risk of losing their home. It is the least this government could do after the economic damage they have caused.

NHS waiting lists: Sunak’s pledge lies in tatters

NHS waiting lists have reached a new record high of 7.8 million. It means that the waiting lists have grown every month since Rishi Sunak made his pledge in January that they would fall.

Liberal Democrat Health and Social Care spokesperson, Daisy Cooper MP said:

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Mark Valladares

22 September 2023 – today’s press release

By Mark Valladares | Fri 22nd September 2023 - 10:30 pm

Families in Blue Wall hit with £3,000 “Truss tax” in year since mini-budget

New research reveals homeowners in London and the South East have seen their mortgage payments rise by £3,000 in year since mini budget

The two ‘Blue Wall’ regions are the hardest hit, compared to an average hit of £2,000 across the country

Those on a 2-year deal who remortgaged in the wake of the mini budget saw their mortgage rate jump by average of 1.69% to 5.17%

Homeowners in London and the South East have seen their mortgage payments rise by a staggering £3,000 in the year since Liz Truss’ shambolic mini budget, new research commissioned by the Liberal Democrats has revealed.

The party said it showed that homeowners are still paying a “Truss tax” on their mortgages and suffering the consequences of years of Conservative chaos.

According to figures provided by the House of Commons Library, typical homeowners coming out of a two-year deal in the week after the mini budget last September would have seen their rate shoot up from 1.69% to 5.17%.

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Mark Valladares

16 June 2023 – yesterday’s press releases

By Mark Valladares | Sat 17th June 2023 - 7:32 am
  • Parliament mustn’t waste time debating Johnson report when families facing mortgage crisis
  • Hosepipe ban: Water bills should be discounted

Parliament mustn’t waste time debating Johnson report when families facing mortgage crisis

The Liberal Democrats are calling on the Government not to waste parliamentary time on Monday with a long debate on the Privileges Committee report on Boris Johnson, but to pass emergency support for families struggling with soaring mortgage rates.

Leader of the House Penny Mordaunt has announced that the motion on Johnson will be debated on Monday for up to six and a half hours. However, the Liberal Democrats argue that the report …

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Mark Valladares

14 June 2023 – the day’s press releases

By Mark Valladares | Fri 16th June 2023 - 11:30 pm
  • GDP: Govt more obsessed with infighting than getting economy moving
  • Two bookies declare Lib Dems favourite to win Mid-Bedfordshire by-election
  • Mortgage misery: Sunak must hold emergency summit in Downing Street
  • By-elections: From Uxbridge to Selby people are sick to their back teeth with Conservative MPs
  • Johnson vs Jenkin: Conservative Party in full blown civil war
  • Dorries should step aside now

GDP: Govt more obsessed with infighting than getting economy moving

Responding to new GDP statistics which show a 0.2% rise in April, Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

Month after month we see the economy growing at a snail’s pace – it’s clear this government is just totally out of ideas and out of control.

The Conservatives seem more obsessed with infighting than putting in the hard work needed to get our economy moving again.

This Government soap opera needs to end so we can get on with the job and give people a fair deal. We finally need to see a proper plan to grow the economy and tackle the soaring price of food, mortgage bills and energy.

Two bookies declare Lib Dems favourite to win Mid-Bedfordshire by-election

  • Ladbrokes and Betfred declare the seat a two-horse race between Liberal Democrats and Conservative party, with Labour in third
  • Odds slashed on Liberal Democrats to win crunch by-election as party makes a flying start to the campaign
  • Leader Ed Davey has made two visits to the constituency in the first week

Betting agencies Ladbrokes and Betfred have slashed the odds on the Liberal Democrats to win the Mid-Bedfordshire by-election.

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Mark Valladares

8 June 2023 – today’s press releases

By Mark Valladares | Thu 8th June 2023 - 10:40 pm
  • Sunak should put Johnson’s honours list through the shredder
  • Teacher stats expose recruitment and retention crisis
  • £41 million remortgage bombshell predicted for June amid “summer from hell” warning

Sunak should put Johnson’s honours list through the shredder

Responding to the news that Rishi Sunak is set to accept Boris Johnson’s honours list, Liberal Democrat Deputy Leader Daisy Cooper MP said:

The fact that one of the most scandal-ridden Prime Ministers is now allowed to stuff his cronies in the Lords after a failed premiership tells the British public everything they need to know about this Conservative Party.

Boris Johnson caused crisis after crisis in this country – if Rishi Sunak rewards his failure it’s just proof it is one rule for the Conservatives and another for everyone else. The buck stops with Sunak – he must ensure that Johnson’s honours list is put through the shredder.

Teacher stats expose recruitment and retention crisis

New statistics released today from the Department for Education have shown:

  • More than 100,000 under-40s have quit teaching in the last 5 years.
  • A third of teachers quit within 5 years of qualifying.
  • The number of teaching vacancies has more than doubled in the last 2 years.
  • 22% of maths teachers and 42% of physics teachers have no relevant post-A-level qualification.
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Mark Valladares

21 November 2022 – today’s press releases

By Mark Valladares | Mon 21st November 2022 - 10:30 pm
  • Mortgage ticking time bomb: Homeowners facing biggest interest payment hike on record
  • Jane Dodds Responds to FIFA’s Decision to Force Team Wales not to wear LGBT+ One Love armbands

Mortgage ticking time bomb: Homeowners facing biggest interest payment hike on record

  • True cost of the mortgage ticking time bomb revealed by Liberal Democrat analysis of OBR figures
  • Homeowners are paying the price for the Conservative Government crashing the economy

British mortgage owners will face the biggest hike in interest payments on record, the Liberal Democrats can reveal.

Buried in the OBR Budget documents is the stark forecast detailing that mortgage interest payments will double over …

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Mark Valladares

7 November 2022 – the overnight press release

By Mark Valladares | Mon 7th November 2022 - 7:00 am

One in four mortgage borrowers fear losing their homes due to unpaid bills

  • New poll reveals homeowners expect their mortgage bills to rise and are worried about losing their home, defaulting on a payment or cutting down on food bills
  • Liberal Democrat Leader Ed Davey has called for a Mortgage Protection Fund, to offer grants to struggling homeowners who risk financial ruin whilst interest rates soar

New polling commissioned by the Liberal Democrats has found over one in four mortgage holders (27%) are worried about losing their home due to unpaid bills as interest rates rise. Almost half of mortgage holders (47%) …

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The Voice

Lloyd: Government must delay “horror” changes to mortgage support

By The Voice | Wed 21st March 2018 - 9:15 pm

Support for Mortgage Interest is a benefit given to people claiming Universal Credit or certain other income-related benefits who have a mortgage or who have taken out loans to make repairs to their home. It pays for the cost of interest on up to £200,000 of a person’s mortgage in order to prevent claimants from defaulting on their mortgage.

From next month, SMI will be replaced by a loan of the same value, which is repaid (with interest) when the property is sold.

It’s pretty cheap, as benefits go, costing the Government around £300 million a year. It is certainly about 3.5 times cheaper than letting someone’s home be repossessed and then having to pay housing benefit to put that household in the rented sector.

Apart from the whole principle being flawed, the implementation seems to have been botched as only around 10,000 of the eligible families have taken up the loan. Some people haven’t even been sent the information about it so that they can make an informed choice about whether to take the loan.

Our Work and Pensions spokesperson Stephen Lloyd said the whole thing was a horror and called for implementation to be delayed.

Every month we seem to be hearing yet more examples of this Conservative government being both mean-spirited and unintelligent; this mortgage interest benefit change is a classic example. It will force some homeowners into even more debt, and will force others to sell their homes putting themselves at the mercy (and cost) of their local council’s housing department. Which, naturally, will cost the taxpayer more in housing benefit than keeping them in their own house by paying mortgage interest payments. An absolutely ridiculous decision.

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