black and white image of sterling currency denominations and a calculator

Mortgage Hike Nightmare Hitting Local Families

I recently sat with a young couple wrestling with soaring costs at the pump, the supermarket, and now, staring down the barrel of a mortgage hike. 

They’ve been working hard for a secure future for their children, but they’re now on the edge of despair. 

Inflation has been draining their monthly earnings. The safety net of their fixed-rate mortgage deal is about to evaporate. They’re not just fretting about the possibility of a £200 monthly increase – they’re bracing for its inevitable arrival. 

They turned to me, desperate for solutions.  

This crisis didn’t sneak up on us. It’s the product of the UK Government’s disastrous Brexit strategy, its economic blunders, and its pick of leadership. Sure, the pandemic, Ukraine’s war, and the energy crisis played their part, but the blame for this situation rightly sits at the door of the UK Government. Remember Liz Truss and Kwasi Kwarteng? Remember the Brexit pipe dreams they peddled? 

The Tories, who strutted around claiming economic stability, have plunged our economy into chaos and skyrocketing costs. 

Last week, inflation dipped to 8.7% – dropping slower than forecasted, and food inflation stands at a whopping 19%. 

This young couple relayed their harsh new reality – cutting out fresh fruits and vegetables from their diet just to cut corners.  

And this isn’t just about this couple; it’s a story unfolding in almost every street across Scotland.  

By year’s end, another 1.3 million people across the UK will be sweating about their expiring fixed-rate mortgages. Inflation might be falling, but it’s moving at a snail’s pace – and the Chancellor seems intent on doing – well, pretty much nothing.  

Even the head of Barclays has sounded the alarm bell about a “huge shock” coming our way.  

We’ve been spoon-fed the narrative that the Union equates to stability. But this isn’t stability. Stability means a government that listens to the people it serves and cares about what we care about.  

The young couple I spoke to deserve better, they deserve a Government they actually vote for, and they deserve hope for their family and their future.