Mortgage ‘catastrophe’ will lose us the election, warn Tory MPs

Members in marginal seats fear Conservative party leaders have not understood the impact of rate rises

Tory MPs in marginal seats are already sounding the alarm over an interest rate catastrophe", amid claims that the party has not understood the impact of spiralling mortgages.

With the Bank of England likely to increase interest rates again this week and major mortgage lenders raising their own rates in the last few days, there is a growing nervousness among Tories about the impact this will have later in the year as the main parties begin to shape their campaigns for the next election.