£33.7m Mortgage Bombshell in Wealden
- 10,854 households in Wealden were forced to remortgage their homes in 2023 amidst Liz Truss’s mini-budget fallout
- Households in Wealden have faced an additional £259 per month added to their mortgage costs
- Wealden Liberal Democrats have slammed the Conservative government for “pushing families to the brink” and said that the PM’s boasts over new inflation statistics will “ring hollow” for all those struggling with higher mortgage rates
Households in Wealden who remortgaged last year face a £33.7 million
annual mortgage bombshell amidst spiralling interest rates following
Liz Truss’s disastrous mini-budget new research by the House of
Commons Library, commissioned by the Liberal Democrats has
revealed.
15.9% households in Wealden remortgaged their home last year,
resulting in an average of additional hit of £259 every month. The
10,854 households who were forced to remortgage saw a collective
additional hit of £33.7 million in Wealden.
Wealden’s Liberal Democrats have said that the research shows that
the Conservative government’s boasts over inflation reaching 2.3% will
“ring hollow” in the face of such startling increases in mortgage
payments which have been “pushing families to the brink”.
Liberal Democrat spokesperson for Sussex Weald, Danielle Newson,
said:
“Spiralling mortgage rates have been pushing families to the brink here,
in the former Wealden area.
“The aftershocks of Liz Truss’s disastrous mini budget have saddled
thousands of households in our area with years of increasingly unaffordable monthly payments and the real threat of many losing their homes.
“This Conservative government has proven themselves utterly unfit to
oversee our economy and it is families in our community who are
paying the price for their staggering incompetence.
“The Prime Minister’s boasts about new inflation figures today will ring
hollow to the thousands across the Wealden area, which is now split
into Sussex Weald constituency and a part of East Grinstead and
Uckfield constituency. People who have borne the brunt of the cost of
living crisis and are struggling to put food on the table. The
Conservative party does not deserve to be in office for a moment
longer.”