Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

720237

registered interest
date	13/04/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the banks buy-to-let mortgage terms and conditions on the ability of private landlords to rent to those in receipt of housing benefit.
tabling member constituency	Linlithgow and East Falkirk
tabling member printed	Martyn Day
uin	70629
answer	answer is ministerial correction date of answer 20/04/2017 answer text <p>The Government is committed to increasing competition in banking. Although it is a commercial decision for banks to set their own lending criteria when lending to private landlords, to rent to those in receipt of housing benefit, the UK has a competitive mortgage market capable of serving a range of different business models.</p><p> </p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby question first answered 20/04/2017 11:36:59 answering member 3929 label Biography information for Simon Kirby
tabling member	4488 label Biography information for Martyn Day

661603

registered interest
date	19/12/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment the Government has made of the effect of Financial Conduct Authority requirements for mortgage affordability assessments on the ability of home owners to re-mortgage or switch mortgage provider.
tabling member constituency	Birmingham, Selly Oak
tabling member printed	Steve McCabe
uin	58150
answer	answer is ministerial correction date of answer 11/01/2017 answer text <p>The Government is committed to increasing competition in banking and creating an environment in which firms compete to offer a range of products that suit the varying needs of their customers. Both existing and prospective mortgage borrowers may benefit from shopping around to find the best deal available to them.</p><p> </p><p>The Government has not undertaken a formal assessment of the effects that the Financial Conduct Authority (FCA) Rules on mortgage affordability assessments have had on the ability of borrowers to switch providers.</p><p> </p><p>Although the Treasury sets the legal framework for the regulation of financial services, specific rules are a matter for the FCA whose day-to-day operations are independent from government control and influence.</p><p> </p><p>In May 2016 the FCA published a review which assessed the impact of recent changes to the regulation of mortgage lending. Where lending is affordable, the FCA did not see evidence that the responsible lending rules have prevented creditworthy consumers obtaining loans.</p><p> </p><p>The full review can be found here: https://www.fca.org.uk/publication/thematic-reviews/tr16-04.pdf</p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby grouped question UIN 58151 question first answered 11/01/2017 10:35:45 answering member 3929 label Biography information for Simon Kirby
tabling member	298 label Biography information for Steve McCabe

661604

registered interest
date	19/12/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps the Government is taking to assist home owners who seek to re-mortgage but who, following the Mortgage Market Review, no longer meet Financial Conduct Authority requirements on mortgage affordability assessments.
tabling member constituency	Birmingham, Selly Oak
tabling member printed	Steve McCabe
uin	58151
answer	answer is ministerial correction date of answer 11/01/2017 answer text <p>The Government is committed to increasing competition in banking and creating an environment in which firms compete to offer a range of products that suit the varying needs of their customers. Both existing and prospective mortgage borrowers may benefit from shopping around to find the best deal available to them.</p><p> </p><p>The Government has not undertaken a formal assessment of the effects that the Financial Conduct Authority (FCA) Rules on mortgage affordability assessments have had on the ability of borrowers to switch providers.</p><p> </p><p>Although the Treasury sets the legal framework for the regulation of financial services, specific rules are a matter for the FCA whose day-to-day operations are independent from government control and influence.</p><p> </p><p>In May 2016 the FCA published a review which assessed the impact of recent changes to the regulation of mortgage lending. Where lending is affordable, the FCA did not see evidence that the responsible lending rules have prevented creditworthy consumers obtaining loans.</p><p> </p><p>The full review can be found here: https://www.fca.org.uk/publication/thematic-reviews/tr16-04.pdf</p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby grouped question UIN 58150 question first answered 11/01/2017 10:35:45 answering member 3929 label Biography information for Simon Kirby
tabling member	298 label Biography information for Steve McCabe

651830

registered interest
date	05/12/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have any plans to regulate further the granting of residential mortgages at high multiples of income.
tabling member printed	Lord Myners
uin	HL3812
answer	answer is ministerial correction date of answer 19/12/2016 answer text <p>The Government has no plans to regulate mortgages at high multiples of income.</p><p> </p><p>The Government has granted the Financial Policy Committee (FPC) powers of direction with regard to owner-occupied mortgages. The Government recently brought forward secondary legislation to grant the FPC powers of direction with regard to buy to let mortgages as well. This instrument has been debated and approved in this House and the other place.</p><p> </p><p>The FPC is a policy committee of the independent Bank of England. It is for the Committee to decide if, when and how to use its powers.</p><p> </p> answering member printed Lord Young of Cookham question first answered 19/12/2016 15:43:31 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

641172

registered interest
date	21/11/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps the Government is taking to assist those mortgage holders who are seeking to switch to mortgage providers which offer better repayment terms.
tabling member constituency	Belfast South
tabling member printed	Dr Alasdair McDonnell
uin	53916
answer	answer is ministerial correction date of answer 24/11/2016 answer text <p>The government is committed to increasing competition in banking and creating an environment in which firms compete to offer a range of products that suit the varying needs of their customers. Both existing and prospective mortgage borrowers may benefit from shopping around to find the best deal available to them.</p><p> </p><p>The Chancellor has not discussed with the Financial Conduct Authority (FCA) what effect its regulations on mortgage affordability assessments have had on the ability of borrowers to switch providers. Similarly the government has not undertaken a formal analysis of these effects.</p><p> </p><p>Although the Treasury sets the legal framework for the regulation of financial services, specific rules are a matter for the FCA whose day-to-day operations are independent from government control and influence.</p><p> </p><p>In May 2016 the FCA published a review which assessed the impact of recent changes to the regulation of mortgage lending. Where lending is affordable, the FCA did not see evidence that the responsible lending rules have prevented creditworthy consumers obtaining loans.</p><p> </p><p>The full review can be found here: https://www.fca.org.uk/publication/thematic-reviews/tr16-04.pdf</p><p> </p><p>According to data from the Bank of England, in September 2016 the average interest rate on outstanding mortgages fell to a historic low of 2.74%.</p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby grouped question UIN 53917 53918 question first answered 24/11/2016 15:41:26 answering member 3929 label Biography information for Simon Kirby
tabling member	1596 label Biography information for Dr Alasdair McDonnell

641173

registered interest
date	21/11/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on the effect of its regulations on mortgage affordability assessments on the ability of mortgage holders to switch mortgage providers.
tabling member constituency	Belfast South
tabling member printed	Dr Alasdair McDonnell
uin	53917
answer	answer is ministerial correction date of answer 24/11/2016 answer text <p>The government is committed to increasing competition in banking and creating an environment in which firms compete to offer a range of products that suit the varying needs of their customers. Both existing and prospective mortgage borrowers may benefit from shopping around to find the best deal available to them.</p><p> </p><p>The Chancellor has not discussed with the Financial Conduct Authority (FCA) what effect its regulations on mortgage affordability assessments have had on the ability of borrowers to switch providers. Similarly the government has not undertaken a formal analysis of these effects.</p><p> </p><p>Although the Treasury sets the legal framework for the regulation of financial services, specific rules are a matter for the FCA whose day-to-day operations are independent from government control and influence.</p><p> </p><p>In May 2016 the FCA published a review which assessed the impact of recent changes to the regulation of mortgage lending. Where lending is affordable, the FCA did not see evidence that the responsible lending rules have prevented creditworthy consumers obtaining loans.</p><p> </p><p>The full review can be found here: https://www.fca.org.uk/publication/thematic-reviews/tr16-04.pdf</p><p> </p><p>According to data from the Bank of England, in September 2016 the average interest rate on outstanding mortgages fell to a historic low of 2.74%.</p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby grouped question UIN 53916 53918 question first answered 24/11/2016 15:41:26 answering member 3929 label Biography information for Simon Kirby
tabling member	1596 label Biography information for Dr Alasdair McDonnell

641174

registered interest
date	21/11/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment the Government has made of the effect of Financial Conduct Authority requirements on mortgage affordability assessments on the (a) ability of mortgage holders to switch mortgage providers, (b) competitiveness of the sector for existing mortgage holders and (c) favourability of post-introductory mortgage terms for existing mortgage holders.
tabling member constituency	Belfast South
tabling member printed	Dr Alasdair McDonnell
uin	53918
answer	answer is ministerial correction date of answer 24/11/2016 answer text <p>The government is committed to increasing competition in banking and creating an environment in which firms compete to offer a range of products that suit the varying needs of their customers. Both existing and prospective mortgage borrowers may benefit from shopping around to find the best deal available to them.</p><p> </p><p>The Chancellor has not discussed with the Financial Conduct Authority (FCA) what effect its regulations on mortgage affordability assessments have had on the ability of borrowers to switch providers. Similarly the government has not undertaken a formal analysis of these effects.</p><p> </p><p>Although the Treasury sets the legal framework for the regulation of financial services, specific rules are a matter for the FCA whose day-to-day operations are independent from government control and influence.</p><p> </p><p>In May 2016 the FCA published a review which assessed the impact of recent changes to the regulation of mortgage lending. Where lending is affordable, the FCA did not see evidence that the responsible lending rules have prevented creditworthy consumers obtaining loans.</p><p> </p><p>The full review can be found here: https://www.fca.org.uk/publication/thematic-reviews/tr16-04.pdf</p><p> </p><p>According to data from the Bank of England, in September 2016 the average interest rate on outstanding mortgages fell to a historic low of 2.74%.</p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby grouped question UIN 53916 53917 question first answered 24/11/2016 15:41:26 answering member 3929 label Biography information for Simon Kirby
tabling member	1596 label Biography information for Dr Alasdair McDonnell

506279

registered interest
date	08/04/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the proportion of new buy-to-let mortgage loans over the next five years which will be advanced on an (a) capital repayment and (b) interest-only basis.
tabling member constituency	South Suffolk
tabling member printed	James Cartlidge
uin	32960
answer	answer is ministerial correction date of answer 13/04/2016 answer text <p>HM Treasury has not made any estimates of the proportion of new buy-to-let mortgage loans over the next five years which will be advanced on a (a) capital repayment and (b) interest-only basis.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 13/04/2016 10:28:30 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4519 label Biography information for James Cartlidge

506289

registered interest
date	08/04/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, with reference to the Prudential Regulation Authority's Draft Supervisory Statement on Buy-to-Let Underwriting Standards, published in March 2016, what assessment he has made of the potential effect of the 20 per cent growth in buy-to-let mortgage lending over the next three years on home ownership.
tabling member constituency	South Suffolk
tabling member printed	James Cartlidge
uin	33114
answer	answer is ministerial correction date of answer 13/04/2016 answer text <p>The Government is committed to supporting homeowners. One part of this commitment is ensuring that there is a level playing field between homeowners and landlords. In the 2015 Autumn Statement, we announced a 3 percentage point increase in the rates of Stamp Duty Land Tax applying to the purchase of additional residential properties, such as second homes and buy-to-let properties; and in the Summer Budget of 2015, we acted to restrict, to the basic rate of income tax, the tax relief on finance costs received by landlords of residential property.</p><p> </p><p>The Financial Policy Committee recently stated that the combination of forthcoming changes to mortgage interest tax relief and the implementation of the PRA Supervisory Statement will probably dampen growth of buy-to-let mortgage lending relative to lenders’ plans.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 13/04/2016 10:11:30 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4519 label Biography information for James Cartlidge

451530

registered interest
date	09/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 28 January 2016 to Question 23906, if the Government will make it its policy to provide formal advice to banks or building societies offering second charge mortgages in territories outside the UK which are illegal under international law on potential financial risks of such products.
tabling member constituency	Leeds Central
tabling member printed	Hilary Benn
uin	26536
answer	answer is ministerial correction date of answer 22/02/2016 answer text <p>The Government has no plans to provide formal advice to banks or building societies offering second charge mortgages in territories outside the UK.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 22/02/2016 16:51:49 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	413 label Biography information for Hilary Benn