Linked Data API

Show Search Form

Search Results

1124233
star this property registered interest false more like this
star this property date less than 2019-05-01more like thismore than 2019-05-01
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Mortgages more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps the Government has taken to improve access to the mortgage market for underserved groups. more like this
star this property tabling member constituency Stalybridge and Hyde more like this
star this property tabling member printed
Jonathan Reynolds more like this
star this property uin 249972 remove filter
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-05-13more like thismore than 2019-05-13
star this property answer text <p>The Government is committed to maintaining an accessible mortgage market. The Financial Conduct Authority (FCA), which is responsible for regulating the market and protecting consumers, found in their Mortgage Market Study, published March 2019, that the market is working well and that consumers have access to mortgages that are suitable and affordable.</p><p> </p><p>The FCA recognises that lenders should have flexibility to decide what type of evidence of income they can accept from customers, including those who are self-employed or have alternative sources of income.</p><p> </p><p>Many lenders also offer custom mortgage products designed for contractors or the self-employed. These commonly include features designed to account for income volatility, such as the ability to make capital repayments at any time, or income assessments using averaged figures to smooth out monthly variations.</p><p> </p><p>Beyond the FCA’s regulations, decisions around the type and availability of mortgage products are commercial decisions for lenders, and the Government does not seek to intervene in these decisions.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN 249973 more like this
star this property question first answered
less than 2019-05-13T14:14:54.873Zmore like thismore than 2019-05-13T14:14:54.873Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
unstar this property tabling member
4119
unstar this property label Biography information for Jonathan Reynolds remove filter