Monday 28 May 2018 9:44 am

Jacob Rees-Mogg priced out of Mayfair, has to ‘settle’ for house in Westminster.

Oscar Lopez is a reporter covering property, markets, alternative investments and technology. Contact at @oscarlopezgib

Tory MP Jacob Rees-Mogg has admitted to being priced out of Mayfair after he recently moved his family home to Cowley Street in Westminster.

Addressing speculation that the move was prompted by his ambition to become Prime Minister, and therefore live closer to Parliament, Rees-Mogg told ITV that it was simply a matter of personal finance.

Read more: MPs demand answers over PM's customs union plans

"The Cowley Street thing is absolute nonsense," he said.

"I am a father of six children and I have moved from Mayfair to Cowley Street because Cowley Street is cheaper and I couldn't afford a bigger property in Mayfair."

Rees-Mogg was also asked about the rumors on the BBC's Andrew Marr show, but the pro-Brexit MP said he was not interested in vying for Downing Street.

"I wouldn't challenge Theresa May. That's a ridiculous idea. The prime minister has my full support," he said.

"I don't wish to be prime minister," he added, saying that all he really wanted was to make Brexit happen.

Read more: Rees-Mogg dismisses claims he wants to be next Prime Minister

Rees-Mogg also criticised Theresa May over her stance on the Irish border, calling it “a mistake,” and urging the Prime Minister to take a tougher stance on Brexit negotiations.

“Ireland has said it doesn’t want a hard border, the UK has said it doesn’t want a hard border and the EU itself has said it doesn’t want a hard border,” said Ress-Mogg. “So frankly it’s up to Brussels if it wants to start putting up border posts. We should call their bluff.”