By Bill Heaney
Jackie Baillie has blamed Rishi Sunak’s Tory Government for putting homeowners across Dumbarton, the Vale of Leven, Balloch, Helensburgh and Lomond in hardship following a hike in interest rates.
The Bank of England announced last week that interest rates would rise from 4.5 percent to 5 percent, meaning those paying off mortgages could be having to pay out hundreds more per month to meet the increase.
The Dumbarton constituency MSP fears this will have a massive impact on homeowners across the area despite solutions being available as laid out in Scottish Labour’s Mortgage Rescue Scheme which was published last year.
Dame Jackie, pictured right, : “The chaos and incompetence of the Tory government has wreaked havoc on our housing sector and pushed many people across Dumbarton, the Vale of Leven, Balloch, Helensburgh and Lomond to the brink with sky-rocketing interest rates.
“This latest blow just makes matters worse. Homeowners are likely to see their mortgage rates soar once again, and this economic chaos caused by the Tories is making people across the constituency struggle more every day.
“Unlike the Tories, Labour has a real plan to ease the pressure on homeowners with our mortgage rescue scheme that would provide a safety net for homeowners and help people struggling with rising payments.”