Half Mortgage Borrowers Fear Losing Their Homes as Rates Soar

Almost one in two mortgage borrowers are now worried about losing their home because of soaring bills, a shocking new poll has revealed.

It comes as the average two-year fixed mortgage rate reaches a new 15-year high of 6.66 per cent.

Polling from Savanta, commissioned by the Liberal Democrats, shows 46% of adults with a mortgage said they were worried about losing their home because of unpaid bills in June.

Dover & Deal Liberal Democrats are calling for a Mortgage Protection Fund, which would offer targeted support of up to £300 a month to those families facing the steepest rise in mortgage costs and in danger of losing their homes. This would be based on past schemes and be fully paid for by reversing Conservative tax cuts to big banks.

Responding to the news that fixed-rate mortgages have risen to the mini-budget peak, Liberal Democrat Parliamentary Candidate for Dover, Penelope James said:

"Latest mortgage rates are just another hammer blow to millions of families right across the county, inflicted by this out-of-touch Conservative government.

"Every month our Conservative Government brings more cold comfort to millions of hardworking families across Dover struggling with their mortgages and the cost of living.

"Conservative Ministers have sat on their hands for far too long and done nothing and put their heads in the sand. It’s not good enough.

"We need real action to help people with their mortgages and that starts by introducing the Liberal Democrats' mortgage protection fund."