Families in North Warwickshire and Bedworth are more than £1500 better off per year when taking out a typical mortgage since Labour came to office, new analysis has found. Across Warwickshire, mortgage costs have fallen by nearly £2000 since the election.
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.
Rachel 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.