Mortgages: Interest Rates
(asked on 11th October 2022) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking with Cabinet colleagues to support homeowners with rising mortgage rates.
Answered by
Felicity Buchan
Parliamentary Under Secretary of State (Department for Levelling Up, Housing and Communities)
This question was answered on 11th October 2022
Around 75% of mortgage holders are on a fixed-rate mortgage, and will therefore be shielded from rate rises in the short term.
We are also taking steps to help everyone with cost-of-living pressures through the Energy Price Guarantee and the Energy Bills Support Scheme, in addition to £37 billion of targeted cost-of-living support this financial year.