Some first-time buyers who spent years saving for their home are now facing repossession, not through recklessness, but because of unexpected increases in interest rates. We are asking the Government to temporarily exempt mortgage interest from tax for those most at risk, before it is too late.

First-time buyers on high interest rates are in danger of losing homes they often spent years saving for. We propose a simple scheme: anyone paying above 3% interest on a first home gets partial tax relief on monthly interest, capped by property value and income. We believe this should be time-limited, regionally adjusted for London, and automatically end when rates fall to 3% or below. We think this is targeted, fair, and far cheaper than the cost of multiple repossessions.