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The National (Scotland)
The National (Scotland)
National
Abbi Garton-Crosbie

Liz Truss taking UK to 'verge of a housing crash' amid high mortgage rates

Liz Truss SNP United Kingdom Westminster

LIZ Truss is "taking the UK to the verge of a housing crash" amid soaring mortgage rates, the SNP have warned.

The Royal Institute of Chartered Surveyors (RICS) has said that "storm clouds are visible" - with house prices likely to fall, and mortgage arrears and repossessions likely to increase as the number of people struggling to pay mortgages is forecast to hit a 15-year high.

Since the disastrous mini-budget announcement by Chancellor Kwasi Kwarteng in September, average mortgage rates have risen to a 14-year high.

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