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Britains Face Up To £5,000 A Year Rise On Mortgages Under Tories.
As Labour leap ahead to extend their Huge Poll Lead. Britain's Mortgage holders are facing a devastating spike in re-payments that will eclipse even the energy bills.Tory MPs are getting worried that the mortgage time bomb will cost them their seats at the Election. Many voters in the blue wall will face a increase in their mortgages up to £5,000 a year. As Keir Starmer enjoys another surge in the polls in support from anxious Homeowners.
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For more on marking an answer as the "Best Answer", please visit our FAQ.After the 2008 banking crisis, there was a clear disconnect between mortgage rates and the Bank of England base rate. Although the bank rate was at or close to zero, mortgage rates were many points above this.
One of my colleagues was lucky enough to have a mortgage deal at 0.5% above base rate (which the building society honoured) – it’s only now that the bank has increased the base rate significantly that it has fed through to mortgage rates (albeit to late).
One of my colleagues was lucky enough to have a mortgage deal at 0.5% above base rate (which the building society honoured) – it’s only now that the bank has increased the base rate significantly that it has fed through to mortgage rates (albeit to late).
Other parties have no magic formula solution. Interest rates have been ludicrously low for ages. Folk who decided to take a risk and over-borrow near free money knew a correction had to come sometime, so have only themselves to hold responsible for any predicament they now find themselves in. If there is any alleviation in their situation at all, they should be very grateful.
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