Mortgages
Treasury
Caroline Nokes (Romsey and Southampton North, Conservative)
To ask the Chancellor of the Exchequer
(1) what provision the Government have put in place for people over 75 seeking to remortgage who may be considered by banks and building societies to be high risk;
(2) what steps the Government have taken to ensure high street banks and building societies do not discriminate against people over 75 who wish to remortgage.
Greg Clark (Tunbridge Wells, Conservative)
There is no law or FSA regulation stipulating a maximum age for mortgage borrowers. Under the FSA's rules, firms are required to provide a prompt, fair and efficient service to all their customers, regardless of their age.
Decisions concerning the pricing and availability of mortgages are commercial decisions for individual lenders, and the Government do not seek to intervene in these decisions.