Anger as households in Hinckley and Bosworth face an additional £204 per month added to their mortgage costs

£20,600,000 MORTGAGE BOMBSHELL IN Hinckley and Bosworth AS 8,406 HOUSEHOLDS FORCED TO REMORTGAGE LAST YEAR 

- 8,406 households in Hinckley and Bosworth were forced to remortgage their homes in 2023 amidst Liz Truss’s mini-budget fallout 

- Households in Hinckley and Bosworth have faced an additional £204 per month added to their mortgage costs

- Hinckley and Bosworth 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 Hinckley and Bosworth who remortgaged last year face a £20,600,000 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

17% of households in Hinckley and Bosworth remortgaged their home last year, resulting in an average of additional hit of £204 every month. The 8,406 households who were forced to remortgage saw a collective additional hit of £20,600,000 in Hinckley and Bosworth.

Hinckley and Bosworth’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”. 

Hinckley Liberal Democrat Councillor Michael Mullaney said:

“Spiralling mortgage rates have been pushing families to the brink here in Hinckley and Bosworth. 

“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 in Hinckley and Bosworth 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.”