A struggling father who's facing a £1,300 hike in his monthly mortgage payments because of spiralling interest rates has this morning been told by Rishi Sunak to ‘talk to his bank’. 🤦♂️ The PM claims he's ‘incredibly sympathetic about the situation.
One caller explained that he is a married father-of-four in his early 30s with a family to support and has ‘been encouraged to invest in bricks and mortar and become homeowners’.
‘As someone who works seven days a week and has paid into the tax system since I left school without claiming a penny back from it, why do I feel like I’m being unfairly punished and what can you do to help me?’ He told Jack: ‘I know you will be anxious about what is going to happen to your mortgage when it comes up for repricing. And we’re taking practical action that will help you and many others.supports HTML5 video
‘So you can talk to your bank and you can do a couple of things with them. You could extend the term of your mortgage by say five to 10 years – or you could switch to an interest only mortgage.