Warwickshire mortgage costs fallen

New data shows the average Warwickshire mortgage cost has fallen by nearly £2000 since general election

Families in Warwickshire are nearly £2000better off per year when taking out a typical mortgage since Labour came to office, new analysis has found.

A household taking out a new, representative, mortgage on an average priced property in Warwickshire in December 2025 will pay £1937 a year less than if they took out an identical mortgage in June 2024, at the time of the election.

This means that families taking out a new mortgage are saving around £160 every month as a result of recent interest rate cuts and improved economic stability – putting money back in people’s pockets.

The figure is expected to increase to £2420 per year if an expected further 0.5% of interest rate cuts takes place this year, relieving cost of living pressures for households across Warwickshire.

Following the disastrous Liz Truss mini-budget, two-year fixed mortgage rates shot up to over six per cent in October 2022. However, Chancellor Rachel Reeves’ management of the economy since the General Election has meant that interest rates on typical mortgages fell from 5.16% in June 2024 to 3.97% in December 2025.

James Murray MP, Labour’s Chief Secretary to the Treasury, said:

“The Tories dealt a hammer blow to family finances when they crashed the economy and sent mortgages, rents and bills soaring.

“Labour is bringing the cost of living down. We’ve stabilised the economy, leading to six interest rate cuts and lower mortgage costs.

“We’re also cutting £150 off average energy bills, freezing rail fares, freezing prescription fees, raising the minimum wage and lifting over half a million children out of poverty. This is the year when working people across Britain will start to feel the benefit of the change Labour is delivering.”

Rachel Taylor MP, the Labour MP for North Warwickshire and Bedworth, said:

“Mortgage costs were one of the biggest issues on the doorstep at the general election in North Warwickshire and Bedworth, so getting those costs down was one of my biggest priorities as the new Labour MP.

“I’m absolutely delighted that families in my constituency who are remortgaging their homes in the coming months will be more than £1,500 better off each year as a result of the action we have taken to stabilise the economy.”