Around 80,000 Scottish households set to see mortgage rates hiked by November

As many as 80,000 Scottish households are set to see their mortgages hiked by November this year.

House of Commons Library research has found that households in Scotland will face a mortgage increase between now and a potential November election.

According to the study, monthly mortgage repayments are projected to increase by an average of around £240 for people coming off fixed rate deals.

The data revealed that an average of 374 households a day will see a rise in their monthly payments.

The research was commissioned by the Liberal Democrats who said the “nightmare” figures meant sleepless nights for families.

Christine Jardine MP said: “These nightmare figures for families up and down Scotland show that Rishi Sunak’s claim that his plans are working just don’t match the reality for families.

“Mortgage costs are going up every day and for thousands of families that will mean sleepless nights, difficult decisions about how to make ends meet and worse.

“Voters feel they are being taken for granted, we have seen that reflected time and again at local elections both sides of the border and it feels as if the Prime Minister is just ignoring peoples’ pain.

“Rather than clinging on in Downing Street, it is time for Rishi Sunak to face the music and allow voters to deliver their verdict on his out-of-touch government by calling a General Election now.”

UK Government has been contacted for comment.