, Labour’s Shadow Chancellor
of the Exchequer, responding to the Bank of England’s
latest interest rate decision, said:
“Households across Britain have been left worse off after
thirteen years of economic failure under the Conservatives.
“Working people are still paying the price from the
Conservatives’ disastrous mini-budget that crashed the economy
and sent interest rates soaring. This month alone more than
170,000 homeowners will be coming off fixed rate mortgages,
typically having to pay an average of £240 more a month.
“Under Keir Starmer’s leadership the Labour Party has changed and
is now the only party with a long-term plan to make working
people better off.”
Ends
Notes to editors
According to the Financial Conduct Authority, the number of
households coming off fixed rate mortgage in December 2023 is
173,715. This can be broken down by region:
|
Central & Greater London
|
20,679
|
|
South East
|
17,718
|
|
South West
|
21,137
|
|
Eastern
|
17,793
|
|
East Midlands
|
14,275
|
|
West Midlands
|
14,150
|
|
North East
|
6,272
|
|
North West
|
19,779
|
|
Yorkshire and The Humber
|
13,600
|
|
Scotland
|
17,567
|
|
Wales
|
6,452
|
|
Northern Ireland
|
4,141
|
|
Unknown Region
|
152
|
|
UK Total
|
173,715
|
https://data.london.gov.uk/dataset/financial-conduct-authority-data-on-mortgage-type-and-fixed-rate-end-date-by-region--as-at-end-2022-
The Bank of England said this would be an average of £240 a
month: https://www.bankofengland.co.uk/financial-stability-report/2023/december-2023
