Project Fear: Now Cameron warns Brexit will force up mortgages by £1,000 a year
MORTGAGES will rocket by nearly £1,000 a year if Britain quits the EU, David Cameron has claimed.
But the Leave campaign claimed voters “cannot trust” the Government on the EU.
In a robust letter to the Prime Minister and Chancellor, Boris Johnson and Michael Gove warned that remaining leaves the country “dangerously and permanently exposed to being forced to hand over more money and accept damaging new laws”.
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The Prime Minister claims mortgages will rise outside the EU
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Boris Johnson and Michael Gove
Nearly all experts agree there will instant shocks to the economy
Stronger In said the average new mortgage will cost £920 a year while first time buyers, who generally have lower value loans, face paying £810 more annually.
“Nearly all experts agree there will instant shocks to the economy if we leave the EU and there is a clear and present danger of higher mortgage rates,” the Prime Minister told The Mail On Sunday.
Combined with predicted higher unemployment and lower wages following a Brexit, the hike in mortgages would make it much tougher for first time buyers to get onto the housing ladder, they warned.
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Cameron is struggling as the referendum debate heats up
Setting out detailed claims about the “dangers” of the EU, they criticised the Prime Minister’s renegotiation package for failing to secure real change.
Britain will be forced to bow to the will of eurozone nations if it remains in the bloc and will be pushed into funding future bailouts for ailing members states, they warned.