Claim: Average mortgage payments will be going up by £2,900 this year.
Fact-check: Labour's £2,900 'mortgage penalty' figure refers to predicted rise for those remortgaging in 2024 - Full Fact
Verdict: this figure appears to be based on the resolution foundation's estimate of the average increase for households whose fixed-rate mortgage expires in 2024. it's not an "average" across all mortgages or an estimate for "this year". the think tank estimates those whose fixed-rate deals expire this year face an average £2,800 increase—but again, this isn't an average across all mortgages, and we've not seen any reliable estimate for that.
Organisation: Full Fact
Author: Hannah Smith
Date published: 2023-06-30T00:00:00