last election

Mortgages cost £400 more each month since last election

According to data, first-time buyers are paying £400 more monthly on mortgage repayments than before the last general election. According to Rightmove, the average repayment has increased from £667 to £1,075 since Boris Johnson's overwhelming victory in 2019. This represents a 61% increase over a period in which salaries increased by 27%. It highlights the financial strain on individuals taking their first step onto the housing ladder, even as Rishi Sunak points to good GDP growth and falling inflation as proof that his plan is working.