9,400 households in Dulwich and West Norwood are facing a mortgage cliff edge this year as fixed term mortgages come to an end, facing an average increase in payments of £6,300 a year as they negotiate new deals.
At the same time, private renters locally are seeing their rents continuing to spiral to wholly unaffordable levels, often accompanied by the threat of a section 21 eviction if they refuse to sign up to the higher level of rent.
My constituents are already facing sharp increases in food and energy bills, and I know how worried many people are about how they will keep a roof over their head.
The Prime Minister’s shameful response to this crisis is to tell people to “hold your nerve”. It was the Conservative Party’s recklessness which has driven interest rates to record highs and now they are refusing to act.
Without robust action, families across my constituency are facing the risk of insecurity and homelessness. Labour has set out a comprehensive plan to provide real help to homeowners and protections for private renters. You can see my speech in Parliament here >>