Orders of the Day — Consumer Credit Bill

Part of the debate – in the House of Commons at 5:07 pm on 9th June 2005.

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Photo of Andrew Love Andrew Love Labour, Edmonton 5:07 pm, 9th June 2005

I am not nearly as sanguine as the hon. Gentleman in relation to mortgaging and remortgaging when lenders are now offering sums equivalent to five times income. That is a matter of genuine concern. My question relates to responsible lending: is not there an onus on the industry, including all the major banks which now find that they have substantial bad debts on their books, to lend more responsibly?