The financial cost of Liz Truss’ disastrous 2022 Mini Budget and the increased mortgage rates that came in its wake has been laid bare today thanks to new data revealing that Londoners are paying an average of £7,500 more a year for their mortgages.
The research, undertaken by Zoopla, looked at 70 per cent Loan To Value mortgages with a 30-year term and found that average repayments in March 2024 were £23,110, compared to £15,580 in March 2021. The corresponding interest rates were 4.5 per cent and 1.8 per cent respectively.
