Chancellor Jeremy Hunt has ruled out introducing a mortgage relief scheme at origin saying that it could fuel further inflation.
When asked whether he would consider introducing mortgage interest relief “at source” by Conservative MP Jake Berry, Chancellor Jeremy Hunt ruled it out today, noting that it could fuel further inflation.
He said: “Those kinds of schemes which involve injecting large amounts of cash into the economy right now will be inflationary, so much as we sympathise with the difficulties and we’ll do everything we can to help people seeing their mortgage costs go up we won’t do anything that would mean we prolong inflation.”
Hunt said that he would meet with mortgage lenders this week to see what further help they could offer households struggling with the cost of living crisis.
The government last week said that it would not give direct fiscal support to householders wanting mortgage help.
The last few weeks have been tumultuous for the mortgage market as higher than expected inflation figures led to swap rates rising and mortgage rates have climbed since.
Lenders have been temporarily removing and repricing deals over the past few weeks due to swap rate volatility.
The latest figures from Rightmove indicate that average mortgage rates have climbed across the board, with the largest increases occurring at the higher loan to value (LTV) tiers.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
