The growing mortgage timebomb facing millions of households will “dwarf the energy bill crisis” for many middle earners, ministers are being warned, amid new evidence that Labour is amassing a huge lead among mortgage payers.
The spiralling costs of energy dominated the concerns of ministers last autumn, before they were forced to intervene as annual costs soared. However, analysis seen by the Observer shows that some households will face paying more than £5,000 a year extra on their mortgages as a result of rising rates – far in excess of the extra energy costs they faced.
