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The Independent UK
The Independent UK
National
Sophie Wingate

First-time buyers’ mortgage bills up by £500 a month, Labour says

PA Wire

First-time buyers have faced a nearly £500-a-month increase in mortgage bills due to soaring rates under Liz Truss’s government, Labour research has found.

Monthly payments, based on the two-year fixed rate and average advance for those looking to get a mortgage for the first time, rose from £837 in January 2022 to £1,303 in December, according to the party’s analysis.

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