Rishi: We'll stick to the plan and halve inflation

RISHI Sunak has insisted his plan to halve inflation is the best way of helping mortgage holders

- Martyn Brown

Prime The Minister, who welcomed Swedish counterpart Ulf yesterday, Kristersson to No10 vowed to "stick to the plan" as he ruled out a government bailout for struggling households.

Ministers have been urged to end the "mortgage horror show" as the average fixed two-year rate on offer topped six per cent for the first time this year.

Mr Sunak said: "I know the anxiety people will have about the mortgage rates, that is why the first priority I set out at the beginning of the year was to halve inflation because that is the best and most important way that we can keep costs and interest rates down for people.

"We've got a clear plan to do that, it is delivering, we need to stick to the plan.

"But there is also support available for people. We have the mortgage guarantee scheme for first-time buyers and we have the support for mortgage interest scheme, which is there to help people as well."

Data from Moneyfactscompare.co.uk shows a drop in availability of mortgage products. A total of 4,683 are on the market, down from 4,923 on Friday but still more than the 3,890 on offer before the September mini-budget.