Sir Ed Davey, leader of the Liberal Democrats, is calling for a 3bn emergency mortgage protection fund to protect people who would otherwise be repossessed.
Speaking on Radio 4s Today programme, Davey says the government should provide the kind of help that was available after the last financial crisis.
Davey explains:
Weve already seen the number of peoples homes been reposessed going up massively surging by 50% in the latest quarter, and my worry is that were going to see lots of other families losing their homes, and we could be in a spiral of repossessions.
The banks have got to play a bigger role. They need to step in and help people who are in trouble.
But just as there was before, there needs to be more protection fo…
Read the full article at: https://www.theguardian.com/business/live/2023/jun/16/mortgage-rates-uk-government-urged-to-provide-emergency-help-costs-rising-nationwide-liberal-democrats-business-live