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1695421

	registered interest
	date	12/03/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Government Assistance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent steps he has taken to support homeowners who are unable to switch to a cheaper mortgage deal.
	tabling member constituency	Feltham and Heston
	tabling member printed	Seema Malhotra
	uin	18171
	answer	answer is ministerial correction date of answer 15/03/2024 answer text <p>The Government understands that being unable to switch your mortgage can be extremely stressful. Alongside the Financial Conduct Authority and industry, we have shown we are willing to act through the introduction of a ‘modified affordability assessment’, which removes the regulatory barriers that prevented some customers, who otherwise may have been able to switch, from accessing new products. We are also regularly in contact with key stakeholders, including recently with the UK Mortgage Prisoners campaign group.</p><p>The Government remains committed to this issue and will continue to work with industry and wider stakeholders to determine if there are proposals that will meaningly benefit affected borrowers and be fair to other borrowers in the wider market.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 18121 question first answered 15/03/2024 12:55:11 answering member 4639 label Biography information for Bim Afolami
	tabling member	4253 label Biography information for Seema Malhotra

1685464

	registered interest
	date	29/01/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the Answer of 8 March 2023 to Question 157639 on Mortgages, whether he plans to publish a response to the report entitled Releasing the Mortgage Prisoners, published on 1 March 2023.
	tabling member constituency	Feltham and Heston
	tabling member printed	Seema Malhotra
	uin	11794
	answer	answer is ministerial correction date of answer 06/02/2024 answer text <p>The Government understands that being unable to switch your mortgage can be extremely stressful and, alongside the Financial Conduct Authority and industry, have shown we are willing to act, such as through the introduction of a ‘modified affordability assessment’.</p><p> </p><p>The Government remains committed to this issue, and we are considering the proposals put forward in this report very carefully. While we cannot force lenders to lend to borrowers they consider too high a risk, we welcome views on any further practical and proportionate solutions that would meaningfully assist affected borrowers and be fair to other borrowers in the wider market. We are also regularly in contact with key stakeholders, including recently with the UK Mortgage Prisoners campaign group, to discuss potential solutions.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 06/02/2024 11:17:55 answering member 4639 label Biography information for Bim Afolami
	tabling member	4253 label Biography information for Seema Malhotra