Scots Labour leader Anas Sarwar will today unveil plans to cut mortgage bills for homeowners struggling with spiralling interest rates
.
Rising interest rates are forcing Scots to pay thousands of pounds more a year in mortgage costs, putting huge pressure on family budgets. An existing programme, Mortgage to Shared Equity, gives the Government a stake in someone’s home. Labour believes the scheme needs to be radically overhauled and expanded to help many more homeowners.
Sarwar told the Record: “We are in the midst of a cost of living crisis where energy prices are going up, petrol prices are up, food prices are up, and we know people’s mortgages are also going up. There is now a Tory premium on mortgages. Labour estimates 7,400 households could be struggling with credit repayments and they claim the beefed up Equity scheme would cost £50m.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ex-FM calls for end to alcohol adverts in sportFormer First Minister Henry McLeish says a 'better way' must be found to finance Scottish football.
Read more »
Two Doors Down episode preview as popular Scottish sitcom returns to BBC TwoThe popular Scottish sitcom has returned to television screens this month, as thousands of fans tune in to catch up on the antics of the hilarious neighbours - just two doors down.
Read more »
Woman who died in Scottish Borders crash named as cops launch probeJanette Davidson of Kelso was driving a grey Kia Venga when she was involved in a collision near the Borders town.
Read more »
Scottish university staff left to pick up the tab for their own expensesUNIVERSITY workers and students have missed mortgage payments, fallen into rent arrears and ran up huge credit card bills because they have not been…
Read more »