Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of interest only mortgages on financial planning for borrowers.

The Financial Conduct Authority (FCA) has responsibility for the day-to-day operation of the residential mortgage market, including the regulation of interest only mortgages.

Following research and analysis published in August 2023, the FCA is reviewing its existing guidance on the treatment of interest only borrowers.