60k Scots homes hit by loans timebomb

MORE than 60,000 Scots homes face a higher risk of repossession due to the Tory mortgage "bombshell"

- PAUL HUTCHEON

Analysis shows households are struggling to cope with rising interest rates and debt repayments.

Labour MSP Mark Griffin said: "The stress and anxiety facing many homeowners in Scotland is palpable but the disastrous response from government has left them with nowhere to turn.

"While people are seeing their monthly mortgage payments soar beyond belief, both the Tories and the SNP are missing in action." The Bank of England raised interest rates to 5.25 per cent last week - marking the 14th consecutive rise since December 2021.