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Tuesday, April 23, 2024

SNP Call for Greater Support for Homeowners ad Mortgage Arrears Soar

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The SNP have called upon the UK government to provide additional support to homeowners amid the news today that mortgages in arrears jumped from April to June this year, to the highest level in seven years. 

A survey by the Bank of England confirmed the increase, as well as highlighting that mortgage loans fell by the largest amount on record in the three month period.

This month, Scotland’s First Minister, Humza Yousaf, gave his support to introducing a tax relief on mortgage payments.

Such a scheme could reduce the burden being felt by working households in Scotland by allowing people to make mortgage repayments from their salary prior to tax and national insurance deductions. 

Commenting, Levelling Up spokesperson, Anum Qaisar MP said:

“Thousands of homeowners across Scotland will be struggling with the ongoing cost of living crisis on top of excruciating mortgage rates, as the direct result of financial mismanagement at Westminster.

“Neither Westminster parties have sufficient plans to help homeowners – with the Tories and Labour are all too happy to continue supporting the disastrous policies that led to this mess.

“The UK government must adopt our proposals to provide homeowners with additional support by implementing a tax relief scheme on mortgage payments to help to keep more cash in the pockets of thousands of households across the country. 

“After thirteen years of Westminster imposed austerity and the promise of more to come from Sir Keir Starmer’s Labour party, it’s clear the SNP is the only party offering real solutions for people struggling with the cost of living, and outlining a positive vision for Scotland as an independent country.”

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