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1167212

	registered interest
	date	29/10/2019
	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, what estimate he has made of the number of existing mortgage prisoners that could benefit from the rule changes announced by the FCA on 28 October 2019.
	tabling member constituency	Blackpool South
	tabling member printed	Gordon Marsden
	uin	7072
	answer	answer is ministerial correction date of answer 04/11/2019 answer text <p>I am aware that customers who are unable to access cheaper mortgage deals are in a difficult and stressful situation. Taking action to remove unnecessary regulatory barriers that have prevented some customers from switching has been a priority for me and so I welcome the changes the FCA have made to their mortgage lending rules.</p><p> </p><p>This change in the FCA’s rules should allow customers to switch to a new lender as long as they meet the lender’s risk appetite. This is determined by the lender and will take into account the circumstances of individual customers, which may include being up to date with their payments; not having significant other debt; and not being in negative equity.</p><p> </p><p>Due to the uncertainty of lender’s risk appetites or the number of consumers who will choose to use the new switching opportunities, it is impossible to know precisely how many mortgage prisoners will be helped by the rule change until lenders are able to report progress to the Financial Conduct Authority (FCA).</p><p> </p><p>Part of the FCA’s action to support mortgage prisoners is ensuring that borrowers, whose mortgage is currently held by an unregulated entity, are proactively contacted about this rule change. Inactive lenders and administrators acting for unregulated entities are now required to implement a communication strategy for relevant customers to inform them of the rule change within the next 10 months.</p><p> </p><p>The FCA ran a consultation on the rule changes and thoroughly considered representations from various interested parties before implementing the changes in October. Most recently, I have met with Andrew Bailey, Chief Executive of the FCA, where we agreed to continue to collaborate and engage to support mortgage prisoners moving forward. In addition, I have met specifically with MPs for the All-Party Parliamentary Group on mortgage prisoners and numerous other MPs who, representing their constituents, have wished to discuss mortgage policy.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 7073 7074 question first answered 04/11/2019 14:00:56 answering member 4051 label Biography information for John Glen
	tabling member	465 label Biography information for Gordon Marsden

1167213

	registered interest
	date	29/10/2019
	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, what steps he will take to ensure that his officials contact existing vulture funds operating in the UK to ensure compliance with the new FCA regulations on mortgage prisoners.
	tabling member constituency	Blackpool South
	tabling member printed	Gordon Marsden
	uin	7073
	answer	answer is ministerial correction date of answer 04/11/2019 answer text <p>I am aware that customers who are unable to access cheaper mortgage deals are in a difficult and stressful situation. Taking action to remove unnecessary regulatory barriers that have prevented some customers from switching has been a priority for me and so I welcome the changes the FCA have made to their mortgage lending rules.</p><p> </p><p>This change in the FCA’s rules should allow customers to switch to a new lender as long as they meet the lender’s risk appetite. This is determined by the lender and will take into account the circumstances of individual customers, which may include being up to date with their payments; not having significant other debt; and not being in negative equity.</p><p> </p><p>Due to the uncertainty of lender’s risk appetites or the number of consumers who will choose to use the new switching opportunities, it is impossible to know precisely how many mortgage prisoners will be helped by the rule change until lenders are able to report progress to the Financial Conduct Authority (FCA).</p><p> </p><p>Part of the FCA’s action to support mortgage prisoners is ensuring that borrowers, whose mortgage is currently held by an unregulated entity, are proactively contacted about this rule change. Inactive lenders and administrators acting for unregulated entities are now required to implement a communication strategy for relevant customers to inform them of the rule change within the next 10 months.</p><p> </p><p>The FCA ran a consultation on the rule changes and thoroughly considered representations from various interested parties before implementing the changes in October. Most recently, I have met with Andrew Bailey, Chief Executive of the FCA, where we agreed to continue to collaborate and engage to support mortgage prisoners moving forward. In addition, I have met specifically with MPs for the All-Party Parliamentary Group on mortgage prisoners and numerous other MPs who, representing their constituents, have wished to discuss mortgage policy.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 7072 7074 question first answered 04/11/2019 14:00:56 answering member 4051 label Biography information for John Glen
	tabling member	465 label Biography information for Gordon Marsden

1167214

	registered interest
	date	29/10/2019
	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, what discussions he has had with representatives of groups acting on behalf of mortgage prisoners on the effect of the announcement made by the FCA on 28 October 2019.
	tabling member constituency	Blackpool South
	tabling member printed	Gordon Marsden
	uin	7074
	answer	answer is ministerial correction date of answer 04/11/2019 answer text <p>I am aware that customers who are unable to access cheaper mortgage deals are in a difficult and stressful situation. Taking action to remove unnecessary regulatory barriers that have prevented some customers from switching has been a priority for me and so I welcome the changes the FCA have made to their mortgage lending rules.</p><p> </p><p>This change in the FCA’s rules should allow customers to switch to a new lender as long as they meet the lender’s risk appetite. This is determined by the lender and will take into account the circumstances of individual customers, which may include being up to date with their payments; not having significant other debt; and not being in negative equity.</p><p> </p><p>Due to the uncertainty of lender’s risk appetites or the number of consumers who will choose to use the new switching opportunities, it is impossible to know precisely how many mortgage prisoners will be helped by the rule change until lenders are able to report progress to the Financial Conduct Authority (FCA).</p><p> </p><p>Part of the FCA’s action to support mortgage prisoners is ensuring that borrowers, whose mortgage is currently held by an unregulated entity, are proactively contacted about this rule change. Inactive lenders and administrators acting for unregulated entities are now required to implement a communication strategy for relevant customers to inform them of the rule change within the next 10 months.</p><p> </p><p>The FCA ran a consultation on the rule changes and thoroughly considered representations from various interested parties before implementing the changes in October. Most recently, I have met with Andrew Bailey, Chief Executive of the FCA, where we agreed to continue to collaborate and engage to support mortgage prisoners moving forward. In addition, I have met specifically with MPs for the All-Party Parliamentary Group on mortgage prisoners and numerous other MPs who, representing their constituents, have wished to discuss mortgage policy.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 7072 7073 question first answered 04/11/2019 14:00:56 answering member 4051 label Biography information for John Glen
	tabling member	465 label Biography information for Gordon Marsden

1145159

	registered interest
	date	05/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Companies: Pay
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what the total payroll is of companies in England that have a payroll (a) over and (b) under £3 million.
	tabling member constituency	Blackpool South
	tabling member printed	Gordon Marsden
	uin	287470
	answer	answer is ministerial correction date of answer 27/09/2019 answer text <p>It is not possible to produce meaningful estimates of the paybills of employers in specific geographical areas. HMRC has information on where Pay As You Earn (PAYE) schemes are registered, though not on the workplaces of the employer. Many large employers will have various workplaces across the UK and will operate multiple PAYE schemes, or outsource their payroll to a payroll provider based in a different location.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 27/09/2019 13:58:55 answering member 3991 label Biography information for Jesse Norman
	tabling member	465 label Biography information for Gordon Marsden

1144492

	registered interest
	date	03/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Chronic Illnesses
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate he has made of the number of people affected by terminal illness who are unable to claim their personal pensions early.
	tabling member constituency	Blackpool South
	tabling member printed	Gordon Marsden
	uin	286104
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The government does not hold this data.</p><p> </p><p>Subject to scheme rules, individuals may be able to make early withdrawals from their personal pension in the event that they are expected to live less than a year. These withdrawals can be made free of tax provided certain conditions are met.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 11:37:49 answering member 4051 label Biography information for John Glen
	tabling member	465 label Biography information for Gordon Marsden