Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if he will take steps to help home buyers aged over 40 acquire mortgages.

The government has taken steps to support people who aspire to own their own home. The Help to Buy scheme has helped over 71,000 people to buy their home, and is available for first time buyers and those moving house. As announced in the Autumn Statement, the government is also cutting stamp duty for 98% of people who pay it by reforming the way that it is charged.

The Financial Conduct Authority (FCA) is responsible for the rules that protect consumers taking out a mortgage. In April this year the requirements on firms around responsible lending were strengthened with the introduction of the new rules known as the Mortgage Market Review. The operation of these rules is a matter for the FCA, whose day-to-day operations are independent from government.