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Liberal Democrats call out Conservative ‘chaos’ and propose mortgage protection fund
According to the Liberal Democrats, the Conservative Party’s actions over the last few months have led to a “mortgage crisis” which has led to people’s monthly mortgage payments rising by hundreds of pounds, meaning urgent action needs to be taken.
In his conference speech yesterday, which was postponed due to the death of Queen Elizabeth II, leader of the Liberal Democrats Ed Davey said that this was the “Conservative Property Penalty”, as millions of families were now struggling.
Davey continued: “Never again can the Conservatives claim to be the party of homeowners. Never again can they claim to be the party of business. Never again can they claim to be the party that balances the books.
“The Conservatives are the party of chaos. And now what worries millions of people is what happens next.”
Fund needed to prevent arrears
He proposed a new mortgage protection fund, which would “cover the extra costs for those families seeing their payments rise most sharply” and help prevent serious arrears and repossession.
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Davey added that action from the Conservative government was “making it even harder for young families to get a mortgage in the first place”.
Therefore, the Liberal Democrats would campaign for stronger rights for rents, to give them more security and protection from rent hikes.
He also called for a windfall tax on fossil fuel companies, reversal of tax cuts for big banks and further help on energy bills.
The Liberal Democrat have been calling for action on mortgage payments since May this year, when research by the party showed that over half of homeowners said that the government weren’t doing enough to help with rising mortgage costs.