Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of interest rates on the number of mortgage defaults in Mid Bedfordshire constituency.

The pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene. However, we recognise this is a concerning time for mortgage borrowers.

The path to lower interest rates is through low inflation. The independent Monetary Policy Committee continues to have the Government’s full support as it takes action to return inflation to target. The Government’s Mortgage Charter - in addition to the significant safeguards already in place - is providing support to vulnerable households; and mortgage arrears and repossessions remain low.