The UK’s Labour Party was propelled to a landslide victory in last week’s general election by voters with mortgages, a new study shows, suggesting a desire for change among homeowners who are facing higher borrowing costs.
The biggest gains for Labour came in areas where mortgaged households dominate, according to an analysis of voting patterns in England and Wales carried out by Hamptons. The party gained 51 seats in such areas, equating to a 165% increase compared with the previous election, in 2019. The Conservative Party took a beating in those constituencies as well as places where people predominately rent or own their homes outright.