Mortgages

Treasury written question – answered on 17th November 2020.

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Photo of Claire Hanna Claire Hanna Social Democratic and Labour Party, Belfast South

To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policies of the proposals made by the London School of Economics on mortgage prisoners, published 11 November 2020.

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

We are grateful to London School of Economics (LSE) and Martin Lewis for their contribution to this conversation.

We remain committed to supporting these borrowers and are pleased that active lenders have started offering switching options specifically for mortgage prisoners taking advantage of the new flexibilities given to them by the FCA. We will monitor the impact of this in the coming months.

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