Mortgage costs have nearly doubled under Tory rule

Liz Truss, the former prime minister, was accused of causing mortgage rates to increase mini-budget of 2022 caused mortgage rates to In 2010, when David Cameron took over running the country from Gordon Brown, repayments for the average home were £583 a month.

Britain is not alone in experiencing a tough five years, with many other countries badly affected by Covid-19 and the cost-of-living crisis, however, “Britain’s longer-term record on growth is also weak and we remain poorer than many of our peers”, he added. “While the absolute costs of a mortgage have risen in percentage terms, the increase in mortgage costs for buying an average home since 2010 have gone up less than the period from 1997,” said Richard Donnell, head of research for Zoopla.Liz Truss, the former prime minister, came under intense pressure for her handling of the economy, with accusations that she caused mortgage repayments to go up during her 50-day stint running the country in 2022.

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