Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Housing, Communities and Local Government, what discussions he has had with mortgage lenders on their role in supporting home ownership in South Basildon and East Thurrock constituency.

The government is in regular contact with mortgage lenders with a view to understanding their position and current lending conditions.

The Economic Secretary to the Treasury and I hosted major high street banks on 10 September and called on lenders to make first-time buyers their top priority. The press notice can be found on gov.uk here.

The pricing of mortgages is a commercial decision for lenders in which the government does not intervene.

The UK benefits from a competitive mortgage market with various first-time buyer products available.

The government has worked with the Financial Conduct Authority and the Bank of England, who have clarified and increased the flexibility of their mortgage regulations. This is helping more customers – especially first-time buyers – to borrow what they need to buy the homes they want, while retaining protections so that lending remains affordable and responsible.