![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/homeowners-should-get-300-a-month-payments-to-help-with-their-mortgages-lib-dem-leader-says/&media=https://uknews.evprotec.com/wp-content/uploads/2022/11/rowhouses-district-stratford-east-end-773446562.jpg&description=HOMEOWNERS should get payments of up to £300-a-month to help with their mortgages according to the Lib Dem leader. It comes as millions of households across the nation are facing rises with their deals scheduled to end next year. Sir Ed Davey called for the creation of a £3 billion mortgage protection fundCredit: Getty Speaking in London, Sir Ed Davey said Brits were paying a "property premium" after Liz Truss and Kwasi Kwarteng's disastrous mini-Budget. And he called for the creation of a £3 billion mortgage protection fund in order to assist families facing crippling increases in their repayments. Davey said this would be paid for by reversing cuts to taxes on banks dating back to 2016. Under his proposal, homeowners who see their repayments increase by more than 10% of their income would be able to apply for monthly grants. Homeowners have been warned they face a huge hike in their repayments after the Bank of England raised interest rates. The central bank raised its base rate of interest on Thursday by 0.75 percentage points to 3% - the biggest increase in 33 years. The bank warned that further rises might be required to bring down runaway inflation, However, some major banks have cut mortgage bills for some customers - despite the Bank's interest hike. But there may be a glimmer of hope for homeowners, as some high street banks have announced a surprise cut to rates which will see some customers' mortgage bills fall. In an unprecedented move Barclays became the first bank to cut bills for mortgage customers on standard variable rates (SVRs). Tips for getting the best mortgage deal Getting the best rate on your mortgage can depend on the rates available at the time, but there are several ways to land the best deal. Usually the larger the deposit you have the lower the rate you can get. If you're remortgaging and your loan to value ratio has changed this could also give you access to better rates than before. A change to your credit score or a better salary coul){kind=link}
HOMEOWNERS should get payments of up to £300-a-month to help with their mortgages according to the Lib Dem leader.
It comes as millions of households across the nation are facing rises with their deals scheduled to end next year.
Speaking in London, Sir Ed Davey said Brits were paying a “property premium” after Liz Truss and Kwasi Kwarteng’s disastrous mini-Budget.
And he called for the creation of a £3 billion mortgage protection fund in order to assist families facing crippling increases in their repayments.
Davey said this would be paid for by reversing cuts to taxes on banks dating back to 2016.