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<p>The pricing and availability of mortgages is a commercial decision for lenders
in which the Government does not intervene. However, we recognise this is a concerning
time for mortgage borrowers.</p><p> </p><p>The path to lower interest rates is through
low inflation. The independent Monetary Policy Committee continues to have the Government’s
full support as it takes action to return inflation to target. The Government’s Mortgage
Charter - in addition to the significant safeguards already in place - is providing
support to vulnerable households; and mortgage arrears and repossessions remain low.</p><p>
</p><p>Over the last two years, the Government has demonstrated its commitment to
supporting the most vulnerable by providing one of the largest support packages in
Europe. Taken together, support to households to help with the high cost of living
is worth £104 billion over 2022-25 - or £3,700 per UK household on average.</p>
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