Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to help support people who are unable to switch to a new fixed rate mortgage, in the context of rising interest rates.

Around 75% of residential mortgage borrowers are on a fixed rate, and therefore shielded from rate rises in the near term.

There remains a broad range of mortgage products on the market, and those looking to switch mortgages are encouraged to shop around and speak to a mortgage broker in order to find the best possible product for them.

Ultimately though, the pricing and availability of loans is a commercial decision for lenders in which the Government does not intervene.