Families who renegotiated their mortgage in the weeks after former chancellor Kwasi Kwarteng’s mini-Budget will be paying an average of over £500 more on monthly bills due to higher interest rates, Labour has said.
Interest rates spiked in the wake of the 23 September announcement of £45bn of unfunded tax giveaways going predominantly to the rich, the bulk of which were reversed within the following weeks by prime minister Liz Truss and new chancellor Jeremy Hunt.
