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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>
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