Asked by: Lord Grocott (Labour - Life peer)
Question
To ask The Leader of the House to list the Lords-starting private member's bills that have had second readings in this session, indicating which of those have begun their committee stages.
Answered by Baroness Smith of Basildon - Leader of the House of Lords and Lord Privy Seal
The following Lords-starting private member’s bills have had second readings this session, those that have begun committee stages are indicated accordingly:
Support for Infants and Parents etc (Information) Bill [HL]
Lithium-ion Battery Safety Bill [HL] - Committee stage
Regulated and Other Activities (Mandatory Reporting of Child Sexual Abuse) Bill [HL] - Committee stage
Education (Values of British Citizenship) Bill [HL]
Refugees (Family Reunion) Bill [HL] - Committee stage
Statutory Instruments (Amendment) Bill [HL]
Environmental Targets (Public Authorities) Bill [HL]
Complications from Abortions (Annual Report) Bill [HL]
Imprisonment for Public Protection (Resentencing) Bill [HL]
Women, Peace & Security Bill [HL]
Home School Education Registration and Support Bill [HL] - Committee stage
Listed Investment Companies (Classification etc) Bill [HL]
Asylum Support (Prescribed Period) Bill [HL]
Non-Consensual Sexually Explicit Images and Videos (Offences) Bill [HL]
Public Authority Algorithmic and Automated Decision-Making Systems Bill [HL]
Permitted Development Rights (Extension) Bill [HL] - Committee stage
Crown Estate (Wales) Bill [HL]
Universal Credit (Standard Allowance Entitlement of Care Leavers) Bill [HL]
Consumer Products (Control of Biocides) Bill [HL] - Committee stage
Mortgage Prisoners Inquiry Bill [HL]
Education (Assemblies) Bill [HL] - Committee stage
House of Lords (Peerage Nominations) Bill [HL] - Committee stage
Palestine Statehood (Recognition) Bill [HL] - Committee stage
Still-Birth (Definition) Bill [HL] - Committee stage
The list of private member’s bills being considered in the Lords and their stage is available and kept updated in the House of Lords Business Paper document and on the Parliament website.
Asked by: Steve Darling (Liberal Democrat - Torbay)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential implications for her policies of the recommendations of the report by the London School of Economics entitled Releasing the Mortgage Prisoners, published in February 2023.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government takes the issue of mortgage prisoners seriously. We understand the challenges that this cohort of borrowers faces and will work with regulators and the industry to ensure that this problem is properly considered.
Asked by: Sarah Edwards (Labour - Tamworth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to help support mortgage prisoners.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Government understands the challenges that mortgage prisoners face and will work with regulators and the industry to ensure that this issue is properly considered.
There are significant measures in place to protect vulnerable mortgage borrowers across the mortgage market, including mortgage prisoners. Financial Conduct Authority (FCA) rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support. Closed book lenders must also comply with the FCA’s Consumer Duty, which ensures firms prioritise fair treatment and good outcomes for their customers.
Additionally, the Government has a number of measures in place to help people to avoid repossession, including Support for Mortgage Interest (SMI) loans for those in receipt of an income-related benefit; the Housing Loss Prevention Advice Service (HLPAS); and protection in the courts through the Pre-Action Protocol, which makes it clear that repossession must always be the last resort for lenders.
Asked by: Chris Evans (Labour (Co-op) - Caerphilly)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the implications for her policies of the recommendations of the report entitled Releasing Mortgage Prisoners: proposed solutions and illustrative costings, published by the LSE in February 2023; and whether she plans to implement those recommendations.
Answered by Tulip Siddiq
This Government understands the challenges that mortgage prisoners face and will work with regulators and the industry to ensure that this issue is properly considered, including looking at the recommendations of the 2023 LSE report.
There are significant measures in place to protect vulnerable mortgage borrowers across the mortgage market, including mortgage prisoners. Financial Conduct Authority (FCA) rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support. Closed book lenders must also comply with the FCA’s Consumer Duty, which ensures firms prioritise fair treatment and good outcomes for their customers.
Additionally, the Government has a number of measures in place to help people to avoid repossession, including Support for Mortgage Interest (SMI) loans for those in receipt of an income-related benefit; the Housing Loss Prevention Advice Service (HLPAS); and protection in the courts through the Pre-Action Protocol, which makes it clear that repossession must always be the last resort for lenders.
Asked by: Mike Amesbury (Independent - Runcorn and Helsby)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of a moratorium on evictions for mortgage prisoners.
Answered by Tulip Siddiq
This Government understands the challenges that mortgage prisoners face and will work with regulators and the industry to ensure that this issue is properly considered.
There are significant measures in place to protect vulnerable mortgage borrowers across the mortgage market, including mortgage prisoners. Financial Conduct Authority (FCA) rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support. Closed book lenders must also comply with the FCA’s Consumer Duty, which ensures firms prioritise fair treatment and good outcomes for their customers.
The Government also has a number of measures in place to help people to avoid repossession, including Support for Mortgage Interest (SMI) loans for those in receipt of an income-related benefit; the Housing Loss Prevention Advice Service (HLPAS); and protection in the courts through the Pre-Action Protocol, which makes it clear that repossession must always be the last resort for lenders.
Asked by: Mike Amesbury (Independent - Runcorn and Helsby)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will take steps to support mortgage prisoners.
Answered by Tulip Siddiq
This Government understands the challenges that mortgage prisoners face and will work with regulators and the industry to ensure that this issue is properly considered.
There are significant measures in place to protect vulnerable mortgage borrowers across the mortgage market, including mortgage prisoners. Financial Conduct Authority (FCA) rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support. Closed book lenders must also comply with the FCA’s Consumer Duty, which ensures firms prioritise fair treatment and good outcomes for their customers.
The Government also has a number of measures in place to help people to avoid repossession, including Support for Mortgage Interest (SMI) loans for those in receipt of an income-related benefit; the Housing Loss Prevention Advice Service (HLPAS); and protection in the courts through the Pre-Action Protocol, which makes it clear that repossession must always be the last resort for lenders.
Asked by: Chris Evans (Labour (Co-op) - Caerphilly)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will announce a timeline for a decision on whether additional measures will be introduced to further support mortgage prisoners.
Answered by Bim Afolami
The Government understands that being unable to switch your mortgage can be extremely stressful. Alongside the Financial Conduct Authority and industry, we have shown we are willing to act through the introduction of a ‘modified affordability assessment’, which removes the regulatory barriers that prevented some customers, who otherwise may have been able to switch, from accessing new products. We are also regularly in contact with key stakeholders, including recently with the UK Mortgage Prisoners campaign group.
The Government remains committed to this issue and will continue to work with industry and wider stakeholders to determine if there are proposals that will meaningly benefit affected borrowers and be fair to other borrowers in the wider market.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent steps he has taken to support homeowners who are unable to switch to a cheaper mortgage deal.
Answered by Bim Afolami
The Government understands that being unable to switch your mortgage can be extremely stressful. Alongside the Financial Conduct Authority and industry, we have shown we are willing to act through the introduction of a ‘modified affordability assessment’, which removes the regulatory barriers that prevented some customers, who otherwise may have been able to switch, from accessing new products. We are also regularly in contact with key stakeholders, including recently with the UK Mortgage Prisoners campaign group.
The Government remains committed to this issue and will continue to work with industry and wider stakeholders to determine if there are proposals that will meaningly benefit affected borrowers and be fair to other borrowers in the wider market.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Answer of 8 March 2023 to Question 157639 on Mortgages, whether he plans to publish a response to the report entitled Releasing the Mortgage Prisoners, published on 1 March 2023.
Answered by Bim Afolami
The Government understands that being unable to switch your mortgage can be extremely stressful and, alongside the Financial Conduct Authority and industry, have shown we are willing to act, such as through the introduction of a ‘modified affordability assessment’.
The Government remains committed to this issue, and we are considering the proposals put forward in this report very carefully. While we cannot force lenders to lend to borrowers they consider too high a risk, we welcome views on any further practical and proportionate solutions that would meaningfully assist affected borrowers and be fair to other borrowers in the wider market. We are also regularly in contact with key stakeholders, including recently with the UK Mortgage Prisoners campaign group, to discuss potential solutions.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to his Department's policy paper, Mortgage Charter, updated on 5 July, what recent assessment he has made of the implications for his policies of proposed solutions in the report entitled Releasing the mortgage prisoners, published by the London School of Economics in February 2023.
Answered by Andrew Griffith - Shadow Secretary of State for Business and Trade
The Government understands that being unable to switch your mortgage can be extremely stressful, and, alongside the Financial Conduct Authority (FCA) and industry, have shown we are willing to act through the introduction of a ‘modified affordability assessment’. We are also regularly in contact with key stakeholders, including recently with the All Party Parliamentary Group on Mortgage Prisoners.
Importantly, all lenders – including those with inactive books - are regulated by the FCA and must provide tailored support to borrowers. The Chancellor has made clear his expectation for lenders to live up to their responsibilities and support any mortgage borrowers who are finding it tough right now. The Government hopes other firms will do the right thing and sign up to the Mortgage Charter as soon as possible.
However, the Government remains committed to the issue of mortgage prisoners, and we are considering the proposals put forward in the London School of Economics report very carefully. While we cannot force lenders to lend to borrowers they consider too high a risk, the Government welcomes any further practical and proportionate solutions that would meaningfully assist affected borrowers and be fair to other borrowers in the wider market.