Commenting on the Bank of England raising interest rates again, Welsh Liberal Democrat Leader Jane Dodds MS said:
“This news will come as a hammer blow to hardworking families across Wales, many of whom are already struggling to make mortgage repayments.
“The blame lies squarely with the Conservative Government whose botched budget last year sent mortgage rates spiraling. Their complete failure to get inflation down has led to homeowners paying the price.
“Even before the recent interest rate increases, mortgage repossessions were on the rise in Wales. Court figures over the last year (Q3 2021 to Q3 2022) show a 147% rise in mortgage possession warrants in Wales.
“Since Rishi Sunak became Prime Minister, the typical homeowner is paying £822 more in mortgage interest payments.
“It’s time the Conservatives backed Liberal Democrat plans for a mortgage protection fund.”
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