Reduce all mortgage interest rates to current rate during Corvid-19 outbreak

This petition seeks to ensure that the Government force every bank to reduce interest rate payments for all mortgages to be in line with the current interest rate set by the Bank of England, during the Corvid-19 outbreak.

This petition was rejected on 15th Apr 2020 as it duplicates an existing petition

The Petition Committee commented:
You may wish to sign this petition calling for the same action. Encourage lenders to suspend interest, fees and repayments during COVID-19: https://petition.parliament.uk/petitions/305297 Since starting this petition, many UK banks have announced measures to help people who are experiencing financial difficulties due to coronavirus. You should look at your bank's website or contact them directly to find out more. You can read the Financial Conduct Authority's announcement on the temporary financial relief that banks can offer customers here: https://www.fca.org.uk/news/press-releases/fca-confirms-temporary-financial-relief-customers-impacted-coronavirus You can find out more about coronavirus and how you can protect yourself and others here: NHS website: https://www.nhs.uk/conditions/coronavirus-covid-19/ UK Government website: https://www.gov.uk/coronavirus You can read NHS tips to help if you are worried about coronavirus here: https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak. Find out more and watch the Committee put questions suggested by petitioners to Government Ministers and the Deputy Chief Medical Officer: https://committees.parliament.uk/committee/326/petitions-committee/news/145767/committee-question-deputy-chief-medical-officer-and-ministers-on-coronavirus-response/ Read correspondence with Government Ministers asking further questions: https://committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/

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Official Petition Site

Many people are on fixed term mortgages who will not benefit from the Bank of England’s emergency reduction of interest rates. By forcing banks to reduce all interest payments to the current interest rate, during the outbreak, it will help to further reduce the financial burden on all households during these unprecedented times.