Mortgages: Interest Rates

(asked on 20th November 2018) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what support is available to borrowers seeking to access lower mortgage rates in the event that their proposed new lender or current lender is not signed up to the Government's voluntary agreement with UK Finance, the Building Socieities Association and the Intermediary Mortgage Lenders Association.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 28th November 2018

67 lenders representing 95% of the UK’s residential mortgage market have signed up to the industry voluntary agreement to help mortgage prisoners.

As set out in my response to your PQ tabled 5th November 2018 officials in the Treasury continue to work closely with the FCA and industry to explore what more can be done. This will include where lenders are not signed up to the industry’s voluntary agreement.

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