Mortgages: Interest Rates

Treasury written question – answered on 28th November 2018.

Alert me about debates like this

Photo of Tim Loughton Tim Loughton Conservative, East Worthing and Shoreham

To ask the Chancellor of the Exchequer, what support is available to borrowers seeking to access lower mortgage rates in the event that their proposed new lender or current lender is not signed up to the Government's voluntary agreement with UK Finance, the Building Socieities Association and the Intermediary Mortgage Lenders Association.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

67 lenders representing 95% of the UK’s residential mortgage market have signed up to the industry voluntary agreement to help mortgage prisoners.

As set out in my response to your PQ tabled 5th November 2018 officials in the Treasury continue to work closely with the FCA and industry to explore what more can be done. This will include where lenders are not signed up to the industry’s voluntary agreement.

Does this answer the above question?

Yes0 people think so

No1 person thinks not

Would you like to ask a question like this yourself? Use our Freedom of Information site.