Results 1–20 of 103 for cerberus

Mortgage Prisoners — [Mr Laurence Robertson in the Chair] (28 Jun 2023)

Seema Malhotra: ...in customers being offered new deals, extra lending and fixed rates. Whether or not that was in writing—I believe it should have been—that was the understanding when mortgages were sold on to Cerberus Capital Management and others. The requirement was not written into the contract when the loans were sold, and the vulture fund Cerberus, which bought the loans, refuses to offer...

Preparing for Extreme Risks (RARPC Report) - Motion to Take Note (12 Jan 2023)

Baroness Brinton: ...published in February 2016; a report on Exercise Typhon, a Public Health England command post exercise in 2017; an Exercise Broad Street high-consequence infectious disease report in 2018; Exercise Cerberus, a Public Health England national exercise, also in 2018; and a report on Exercise Pica, the NHS primary care preparedness and response to the influenza pandemic, on 5 September 2018....

Financial Services and Markets Bill ( 7 Sep 2022)

Seema Malhotra: ...fully regulated high street banks such as Northern Rock. They were kept trapped on high standard variable rates, before their mortgages were sold by the Government to mortgage loan sharks such as Cerberus, Tulip and Heliodor. They cannot switch to different lenders. As co-chair of the all-party parliamentary group on mortgage prisoners, I have heard from key workers, many of whom risked...

Health and Care Bill - Second Reading ( 7 Dec 2021)

Lord Stevens of Birmingham: ...services. It removes the role of the Competition and Markets Authority, enabling hospitals to work together, as the pandemic has shown to be so necessary. It brings together the triple-headed Cerberus of Monitor, the Trust Development Authority and the Commissioning Board to create a unified and accountable NHS England. The Bill puts on a statutory, transparent and accountable basis the...

Written Answers — Ministry of Defence: Army: Deployment ( 8 Nov 2021)

James Heappey: ...series of planned exercises that focus on Brigade level and above training, including 16 Air Assault Brigade Combat Team deploying on Ex SWIFT RESPONSE in 2022 and the deployment of elements on Ex CERBERUS 22. Furthermore, the British Army regularly participates in the DEFENDER series, a US led multinational exercise in Europe, at the Brigade level.

Written Answers — Ministry of Defence: Merlin Helicopters: Early Warning Systems (20 Jul 2021)

Jeremy Quin: CROWSNEST is a mechanically rotating radar. The mission system is an updated version of the CERBERUS mission system previously used on Sea King Mk7.

Financial Services Bill - Commons Reason and Amendment: Motion B1 (as an amendment to Motion B) (28 Apr 2021)

Lord Sharkey: ...reply. I was struck again that there was no acknowledgement of any moral responsibility for the condition of the mortgage business. I was totally confused by his explanation of dealing with Cerberus. I point again to the fact that UKAR wrote to the Treasury Select Committee explaining that it had been misled by Cerberus about its treatment of people who became mortgage prisoners. I would...

Financial Services Bill: Before Clause 1 - Duty of care for financial service providers (26 Apr 2021)

Jim Shannon: ...not a solution for the mortgage prisoners tonight? As I said, and have been reiterating for years, there continues to be what I can only term a failure to regulate in any way vulture funds such as Cerberus, but at the same time Her Majesty’s Treasury rightly made the decisions on Northern Rock. Despite limited efforts by the FCA, due to the restrictions placed in legislation by Her...

Written Answers — Ministry of Defence: Military Exercises (18 Mar 2021)

Baroness Goldie: ...planned exercises that focus on Brigade level and above training. Examples of these include the 16 Air Assault Brigade deploying of Ex SWIFT RESPONSE 22 in 2022 and the deployment of elements on Ex CERBERUS 22. Furthermore, the British Army regularly participates in the DEFENDER series, a US led multinational exercise in Europe, at the Brigade level.

Financial Services Bill: New Clause 27 - Money laundering offences: electronic money institutions, payment institutions and deposit-taking bodies (13 Jan 2021)

Seema Malhotra: ...She is now on a two-year fixed rate of 1.79%, and saving over £5,000 a year in mortgage payments. The second constituent’s Northern Rock mortgage was sold to Landmark and is ultimately owned by Cerberus—a mortgage with a fully regulated high street bank sold off to a vulture fund. The family are not being offered any new deals, costing them over £6,000 a year more than if they were...

Financial Services Bill ( 9 Nov 2020)

Kevin Hollinrake: ...outside the country, including inactive lenders. There is no doubt that there is a regulatory gap around that. For example, some of the books from Northern Rock were sold into the clutches of Cerberus, an international private equity firm, and the rates charged to individuals, who were often mortgage prisoners, climbed significantly from below 2% to often in excess of 5%. The Financial...

Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill (11 Sep 2020)

Kevin Hollinrake: ...ones on banking, but when you are a hammer everything is a nail. One tax loophole has been exploited in terms of co-operatives in the Netherlands, and this has been done by an organisation called Cerberus. It is a giant private equity house that bought up lots of assets in the UK, in particular by buying £16 billion-worth of assets from Northern Rock. Those were loans where there was a...

Tax Avoidance and Evasion (25 Feb 2020)

Kevin Hollinrake: ...Economic Secretary to the Treasury is on the Front Bench, because I want to give another example of where we are not maintaining a fair and level playing field. It relates to some of our banks and Cerberus. UK lenders who pay UK tax have sold their loan books to inactive lenders who work offshore and do not pay corporation tax or operate on the same regulatory playing field. Cerberus,...

Mortgage Prisoners ( 6 Jun 2019)

Charlie Elphicke: ...banks are unacceptable. Colleagues have asked: “Why have we let them get away with it? How can people not afford to pay less?” Colleagues have also said that unregulated vulture funds such as Cerberus should not be allowed to hold mortgages. The case was made for mortgages to be regulated and for small business borrowers to be better protected. It is time for a new covenant of fairness...

Written Answers — Treasury: UK Asset Resolution (13 May 2019)

Gordon Marsden: To ask the Chancellor of the Exchequer, what discussions (a) he and (b) Ministers of his Department have had with the Financial Conduct Authority on whether Cerberus Capital Management is a fit and proper organisation to purchase mortgage loans from UK banks and his Department via UKAR.

Banking (Consumer and Small Business Protection) ( 7 May 2019)

Charlie Elphicke: ...prisoners live in fear of rates rising. Jayne, 50, took out a Northern Rock mortgage in 2007. She was on a five-year tracker mortgage 0.5% above base rate. Her mortgage has since been sold to Cerberus by the Treasury. Last weekend, an investigation in The Mail on Sunday by William Turvill described Cerberus as a “hound from hell” vulture fund. Jayne is now paying nearly 5% interest on...

Clydesdale Bank and Smes (19 Mar 2019)

Angela Crawley: I asked for this statement on Clydesdale Bank’s treatment of SMEs in the light of my constituent John Guidi’s hunger strike in protest at his treatment by Clydesdale Bank and Cerberus Capital Management. I am aware that aspects of Mr Guidi’s case are sub judice, so I do not intend to refer to the specifics in any way that would prejudice the case. In 1998, John Guidi built a business in...

Mortgages: Cerberus - Question (28 Nov 2018)

Mortgages: Cerberus - Question

Business of the House (25 Oct 2018)

Valerie Vaz: ...Secretary of State for Housing, Communities and Local Government to update the House? The Government seem to be profligate with public money and state assets, because apparently the UK equity firm Cerberus misled the Government in the biggest sale of state assets in UK history. The company told the Government it was planning to offer homeowners better mortgage deals before its £13 billion...


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