Middle class families are giving up horse riding to cover soaring bills and higher mortgage costs. The increased cost of feed, insurance and fees charged by yard owners means horse ownership is £1,000 more expensive than it was last year. As a result, charities have seen a spike in horses being handed over for rehoming, as families battle high mortgage rates and utility bills. Mortgage rates edged upwards this week over expectations of a smaller base rate cut this summer. About 1.6 million homeowners’ fixed-rate deals will end this year. The average cost of owning a horse rose by a fifth to £6,000 a year between 2022 and 2023, according to equestrian insurer Harry Hall. More than three-quarters of yard owners raised their fees last year, with 29pc charging horse owners £20 more a month. Liz Hopper, of Harry Hall, said yard owners were under pressure from soaring insurance costs, and the need to pay employees the National Living Wage (currently £11.44 an hour). Likewise, insurance premiums for horse owners, as with other forms of pet insurance, have also risen by as much as 13pc in 2023. Ms Hopper said: “Horse owners are facing bills of £500 a month –...