Shadow Treasury Minister Tulip Siddiq has warned “it won’t be a good Christmas for lots of people” as thousands of homeowners will be hit by higher mortgages in December.
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00:00 So I looked at the data, the FCA data, before I came on the show,
00:04 and it showed that 170,000 people will come off their fixed-rate mortgage in December this year,
00:11 which means they will be paying £240 more a month
00:15 on top of the cost-of-living crisis that they're already facing.
00:18 And I've been speaking to constituents who are saying to me,
00:20 "Christmas is coming. We don't know whether we should be selling our family home,
00:24 how we're going to be paying our mortgages,
00:26 and also, how do we cope with the fact that there's inflation, there's a rising cost of food altogether?"
00:32 It's not going to be a very good Christmas for lots of people across the country.