Under the Higher Education and Research Act 2017, the Office for Students cannot pay the Quality Assurance Agency for Higher Education (QAA) to regulate or quality assure Access Validating Agency\u2019s or Access to Higher Education Courses beyond 31 July 2019.<\/p>
<\/p>
The department has spoken with the QAA to discuss how it is adapting to the conclusion of these historic contracts and will hold further discussions later in the year.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4021", "label" : {"_value" : "Biography information for Chris Skidmore"} } , "answeringMemberConstituency" : {"_value" : "Kingswood"} , "answeringMemberPrinted" : {"_value" : "Chris Skidmore"} , "dateOfAnswer" : {"_value" : "2019-06-04", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-04T07:42:47.95Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2019-05-21", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Quality Assurance Agency for Higher Education: Finance"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Education, for what reason Government funding was withdrawn for the Quality Assurance Agency's regulatory and Quality Assurance licensing of Access Validating Agency's for the new academic year 2019-20.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/465", "label" : {"_value" : "Biography information for Gordon Marsden"} } , "tablingMemberConstituency" : {"_value" : "Blackpool South"} , "tablingMemberPrinted" : [{"_value" : "Gordon Marsden"} ], "uin" : "256937"} , {"_about" : "http://data.parliament.uk/resources/1127127", "AnsweringBody" : [{"_value" : "Department for Education"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1127127/answer", "answerText" : {"_value" : "
The timetable for this year's Apprenticeship Pay Survey has been adjusted to allow the survey to be merged with the department's Apprenticeship Evaluation Survey. Apprenticeship Pay Survey fieldwork has been completed, and reporting is underway. The government will publish results in due course.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1523", "label" : {"_value" : "Biography information for Anne Milton"} } , "answeringMemberConstituency" : {"_value" : "Guildford"} , "answeringMemberPrinted" : {"_value" : "Anne Milton"} , "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-21T15:42:47.19Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2019-05-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Apprentices: Pay"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Education, when his Department plans to publish the Apprenticeship Pay Survey 2018.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/465", "label" : {"_value" : "Biography information for Gordon Marsden"} } , "tablingMemberConstituency" : {"_value" : "Blackpool South"} , "tablingMemberPrinted" : [{"_value" : "Gordon Marsden"} ], "uin" : "255276"} , {"_about" : "http://data.parliament.uk/resources/1127220", "AnsweringBody" : [{"_value" : "Department for Education"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1127220/answer", "answerText" : {"_value" : "
Widening access and participation in higher education is a priority for this government. This means that everyone with the capability to succeed in higher education should have the opportunity to participate, regardless of their background or where they grew up.<\/p>
<\/p>
We have made real progress in ensuring universities are open to all, with record rates of disadvantaged 18 year olds in higher education. However, we know that more needs to be done to maximise the potential of the talent of future applicants to higher education courses, so it is vital that we build on this progress.<\/p>
<\/p>
Higher education providers need to use good quality and meaningful data to identify disadvantage in order to effectively address disparities in access and participation in higher education. We encourage institutions to use a range of measures to identify disadvantage, including individual-level indicators, area data (such as POLAR, Index of Multiple Deprivation or ACORN), school data, intersectional data such as the Universities and Colleges Admissions Service's (UCAS) multiple equality measure and participation in outreach activities.<\/p>
To this end, we are working with the Office for Students, UCAS and sector representatives to further explore how we can support universities to improve and enhance access to data.<\/p>
<\/p>
We want institutions to consider a broad range of information in their offers, including the context in which a student\u2019s results were achieved. We are committed to helping universities progress in their efforts to improve access and successful participation for under-represented groups.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4021", "label" : {"_value" : "Biography information for Chris Skidmore"} } , "answeringMemberConstituency" : {"_value" : "Kingswood"} , "answeringMemberPrinted" : {"_value" : "Chris Skidmore"} , "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "255278"} , {"_value" : "255279"} , {"_value" : "255280"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-21T15:57:19.197Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2019-05-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Universities: Admissions"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Education, what discussions he has had with representatives of (a) universities and (b) the education sector on sharing data on an applicant's (i) pupil premium status and (ii) ethnicity directly with universities for the purpose of widening access and participation in higher education.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/465", "label" : {"_value" : "Biography information for Gordon Marsden"} } , "tablingMemberConstituency" : {"_value" : "Blackpool South"} , "tablingMemberPrinted" : [{"_value" : "Gordon Marsden"} ], "uin" : "255277"} , {"_about" : "http://data.parliament.uk/resources/1127221", "AnsweringBody" : [{"_value" : "Department for Education"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1127221/answer", "answerText" : {"_value" : "
Widening access and participation in higher education is a priority for this government. This means that everyone with the capability to succeed in higher education should have the opportunity to participate, regardless of their background or where they grew up.<\/p>
<\/p>
We have made real progress in ensuring universities are open to all, with record rates of disadvantaged 18 year olds in higher education. However, we know that more needs to be done to maximise the potential of the talent of future applicants to higher education courses, so it is vital that we build on this progress.<\/p>
<\/p>
Higher education providers need to use good quality and meaningful data to identify disadvantage in order to effectively address disparities in access and participation in higher education. We encourage institutions to use a range of measures to identify disadvantage, including individual-level indicators, area data (such as POLAR, Index of Multiple Deprivation or ACORN), school data, intersectional data such as the Universities and Colleges Admissions Service's (UCAS) multiple equality measure and participation in outreach activities.<\/p>
To this end, we are working with the Office for Students, UCAS and sector representatives to further explore how we can support universities to improve and enhance access to data.<\/p>
<\/p>
We want institutions to consider a broad range of information in their offers, including the context in which a student\u2019s results were achieved. We are committed to helping universities progress in their efforts to improve access and successful participation for under-represented groups.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4021", "label" : {"_value" : "Biography information for Chris Skidmore"} } , "answeringMemberConstituency" : {"_value" : "Kingswood"} , "answeringMemberPrinted" : {"_value" : "Chris Skidmore"} , "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "255277"} , {"_value" : "255279"} , {"_value" : "255280"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-21T15:57:19.247Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2019-05-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Universities: Admissions"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Education, what discussions he has had with (a) the Office for Students and (b) UCAS on the transmission of data on an applicant's (i) pupil premium status and (ii) ethnicity directly to universities for the purpose widening access and participation in higher education.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/465", "label" : {"_value" : "Biography information for Gordon Marsden"} } , "tablingMemberConstituency" : {"_value" : "Blackpool South"} , "tablingMemberPrinted" : [{"_value" : "Gordon Marsden"} ], "uin" : "255278"} , {"_about" : "http://data.parliament.uk/resources/1127222", "AnsweringBody" : [{"_value" : "Department for Education"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1127222/answer", "answerText" : {"_value" : "
Widening access and participation in higher education is a priority for this government. This means that everyone with the capability to succeed in higher education should have the opportunity to participate, regardless of their background or where they grew up.<\/p>
<\/p>
We have made real progress in ensuring universities are open to all, with record rates of disadvantaged 18 year olds in higher education. However, we know that more needs to be done to maximise the potential of the talent of future applicants to higher education courses, so it is vital that we build on this progress.<\/p>
<\/p>
Higher education providers need to use good quality and meaningful data to identify disadvantage in order to effectively address disparities in access and participation in higher education. We encourage institutions to use a range of measures to identify disadvantage, including individual-level indicators, area data (such as POLAR, Index of Multiple Deprivation or ACORN), school data, intersectional data such as the Universities and Colleges Admissions Service's (UCAS) multiple equality measure and participation in outreach activities.<\/p>
To this end, we are working with the Office for Students, UCAS and sector representatives to further explore how we can support universities to improve and enhance access to data.<\/p>
<\/p>
We want institutions to consider a broad range of information in their offers, including the context in which a student\u2019s results were achieved. We are committed to helping universities progress in their efforts to improve access and successful participation for under-represented groups.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4021", "label" : {"_value" : "Biography information for Chris Skidmore"} } , "answeringMemberConstituency" : {"_value" : "Kingswood"} , "answeringMemberPrinted" : {"_value" : "Chris Skidmore"} , "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "255277"} , {"_value" : "255278"} , {"_value" : "255280"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-21T15:57:19.307Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2019-05-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Universities: Admissions"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Education, if he will make an assessment of how additional indicators of a pupil's disadvantage and under-representation in higher education can be made accessible to universities in order to widen participation and help such pupils access work.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/465", "label" : {"_value" : "Biography information for Gordon Marsden"} } , "tablingMemberConstituency" : {"_value" : "Blackpool South"} , "tablingMemberPrinted" : [{"_value" : "Gordon Marsden"} ], "uin" : "255279"} , {"_about" : "http://data.parliament.uk/resources/1127223", "AnsweringBody" : [{"_value" : "Department for Education"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1127223/answer", "answerText" : {"_value" : "
Widening access and participation in higher education is a priority for this government. This means that everyone with the capability to succeed in higher education should have the opportunity to participate, regardless of their background or where they grew up.<\/p>
<\/p>
We have made real progress in ensuring universities are open to all, with record rates of disadvantaged 18 year olds in higher education. However, we know that more needs to be done to maximise the potential of the talent of future applicants to higher education courses, so it is vital that we build on this progress.<\/p>
<\/p>
Higher education providers need to use good quality and meaningful data to identify disadvantage in order to effectively address disparities in access and participation in higher education. We encourage institutions to use a range of measures to identify disadvantage, including individual-level indicators, area data (such as POLAR, Index of Multiple Deprivation or ACORN), school data, intersectional data such as the Universities and Colleges Admissions Service's (UCAS) multiple equality measure and participation in outreach activities.<\/p>
To this end, we are working with the Office for Students, UCAS and sector representatives to further explore how we can support universities to improve and enhance access to data.<\/p>
<\/p>
We want institutions to consider a broad range of information in their offers, including the context in which a student\u2019s results were achieved. We are committed to helping universities progress in their efforts to improve access and successful participation for under-represented groups.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4021", "label" : {"_value" : "Biography information for Chris Skidmore"} } , "answeringMemberConstituency" : {"_value" : "Kingswood"} , "answeringMemberPrinted" : {"_value" : "Chris Skidmore"} , "dateOfAnswer" : {"_value" : "2019-05-21", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "255277"} , {"_value" : "255278"} , {"_value" : "255279"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-21T15:57:19.353Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2019-05-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Universities: Admissions"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Education, whether he has made an assessment of the extent to which sharing data on additional indicators of an applicant\u2019s disadvantage and under-representation in higher education, including pupil premium status, free school meals eligibility and ethnicity can enable universities to make further progress on widening access and participation in higher education.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/465", "label" : {"_value" : "Biography information for Gordon Marsden"} } , "tablingMemberConstituency" : {"_value" : "Blackpool South"} , "tablingMemberPrinted" : [{"_value" : "Gordon Marsden"} ], "uin" : "255280"} , {"_about" : "http://data.parliament.uk/resources/1125482", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1125482/answer", "answerText" : {"_value" : "
Customers have always been protected in UKAR asset sales. The government and UKAR consider the fair treatment of customers a priority for all asset sales and have always included customer protections in line with or that exceeded industry best practice for transactions of this nature.<\/p>
<\/p>
Bidders were required to agree to customer protections, which were non-negotiable, before the bids were assessed on price. These protections included: adherence to the Financial Conduct Authority\u2019s principle of Treating Customers Fairly; where customers were on Standard Variable Rate mortgages, purchasers were restricted in the changes they could make to the Standard Variable Rate for 12 months; and, mortgage books that were sold had to be administered by Financial Conduct Authority regulated companies, and no changes could be made to the terms and conditions of any of the loans that had been sold.<\/p>
<\/p>
In addition to requiring bidders to agree to the protections outlined above, UKAR undertake due diligence on bidders, their proposed servicers and legal title holders of the loans to ensure that they have the necessary policies, procedures and governance in place to treat customers fairly.<\/p>
<\/p>
The details of all NRAM mortgage sales can be found on gov.uk. Both active and non-active lenders are invited to participate in UKAR sales to ensure a competitive process. In relation to the latest asset sale, UKAR\u2019s advisors proactively invited the top 25 active lenders to participate. Notwithstanding this, UKAR have not received a bid from an active lender that covered the full portfolio of assets being sold.<\/p>
<\/p>
Whether to offer customers new mortgage products is a commercial decision for lenders and government does not intervene in individual cases.<\/p>
<\/p>
That said, the government welcomes the voluntary agreement entered into last year by UK Finance working with the FCA. Under this agreement, 59 authorised lenders representing 93 per cent of the UK\u2019s residential mortgage market have agreed common standards to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are currently ineligible, to move to an alternative product provided by their lender, where said lender is able to offer alternative products.<\/p>
<\/p>
HM Treasury has also worked closely with the FCA on their Mortgages Market Study and their planned changes to affordability assessments. These changes remove the regulatory barriers which previously might have prevented borrowers from accessing new mortgage deals, regardless of whether they are with active or inactive lenders. HM Treasury will continue to work closely with the FCA once the changes to their rules are implemented, to monitor the impact this will have on the market.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4051", "label" : {"_value" : "Biography information for John Glen"} } , "answeringMemberConstituency" : {"_value" : "Salisbury"} , "answeringMemberPrinted" : {"_value" : "John Glen"} , "dateOfAnswer" : {"_value" : "2019-05-13", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "251932"} , {"_value" : "251933"} , {"_value" : "251934"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-13T14:27:34.797Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-05-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "UK Asset Resolution"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the safeguards and mechanisms put in place by his Department and the Financial Conduct Authority between 2012 and 2018 in respect of the sale of UKAR loans to ensure that loan holders were able to transfer or get better terms from other regulated lenders instead of those companies to whom AKAR had sold their loans.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/465", "label" : {"_value" : "Biography information for Gordon Marsden"} } , "tablingMemberConstituency" : {"_value" : "Blackpool South"} , "tablingMemberPrinted" : [{"_value" : "Gordon Marsden"} ], "uin" : "251931"} , {"_about" : "http://data.parliament.uk/resources/1125483", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1125483/answer", "answerText" : {"_value" : "
Customers have always been protected in UKAR asset sales. The government and UKAR consider the fair treatment of customers a priority for all asset sales and have always included customer protections in line with or that exceeded industry best practice for transactions of this nature.<\/p>
<\/p>
Bidders were required to agree to customer protections, which were non-negotiable, before the bids were assessed on price. These protections included: adherence to the Financial Conduct Authority\u2019s principle of Treating Customers Fairly; where customers were on Standard Variable Rate mortgages, purchasers were restricted in the changes they could make to the Standard Variable Rate for 12 months; and, mortgage books that were sold had to be administered by Financial Conduct Authority regulated companies, and no changes could be made to the terms and conditions of any of the loans that had been sold.<\/p>
<\/p>
In addition to requiring bidders to agree to the protections outlined above, UKAR undertake due diligence on bidders, their proposed servicers and legal title holders of the loans to ensure that they have the necessary policies, procedures and governance in place to treat customers fairly.<\/p>
<\/p>
The details of all NRAM mortgage sales can be found on gov.uk. Both active and non-active lenders are invited to participate in UKAR sales to ensure a competitive process. In relation to the latest asset sale, UKAR\u2019s advisors proactively invited the top 25 active lenders to participate. Notwithstanding this, UKAR have not received a bid from an active lender that covered the full portfolio of assets being sold.<\/p>
<\/p>
Whether to offer customers new mortgage products is a commercial decision for lenders and government does not intervene in individual cases.<\/p>
<\/p>
That said, the government welcomes the voluntary agreement entered into last year by UK Finance working with the FCA. Under this agreement, 59 authorised lenders representing 93 per cent of the UK\u2019s residential mortgage market have agreed common standards to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are currently ineligible, to move to an alternative product provided by their lender, where said lender is able to offer alternative products.<\/p>
<\/p>
HM Treasury has also worked closely with the FCA on their Mortgages Market Study and their planned changes to affordability assessments. These changes remove the regulatory barriers which previously might have prevented borrowers from accessing new mortgage deals, regardless of whether they are with active or inactive lenders. HM Treasury will continue to work closely with the FCA once the changes to their rules are implemented, to monitor the impact this will have on the market.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4051", "label" : {"_value" : "Biography information for John Glen"} } , "answeringMemberConstituency" : {"_value" : "Salisbury"} , "answeringMemberPrinted" : {"_value" : "John Glen"} , "dateOfAnswer" : {"_value" : "2019-05-13", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "251931"} , {"_value" : "251933"} , {"_value" : "251934"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-13T14:27:34.893Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-05-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "UK Asset Resolution"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, what assessment (a) his Department and (b) the Financial Conduct Authority have made of the legal responsibility of TSB and other banks whose organisation or subsidiary have bought loans from UKAR to allow people who had such loans but are not their customers to transfer or switch to another mortgage loan provider.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/465", "label" : {"_value" : "Biography information for Gordon Marsden"} } , "tablingMemberConstituency" : {"_value" : "Blackpool South"} , "tablingMemberPrinted" : [{"_value" : "Gordon Marsden"} ], "uin" : "251932"} , {"_about" : "http://data.parliament.uk/resources/1125484", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1125484/answer", "answerText" : {"_value" : "
Customers have always been protected in UKAR asset sales. The government and UKAR consider the fair treatment of customers a priority for all asset sales and have always included customer protections in line with or that exceeded industry best practice for transactions of this nature.<\/p>
<\/p>
Bidders were required to agree to customer protections, which were non-negotiable, before the bids were assessed on price. These protections included: adherence to the Financial Conduct Authority\u2019s principle of Treating Customers Fairly; where customers were on Standard Variable Rate mortgages, purchasers were restricted in the changes they could make to the Standard Variable Rate for 12 months; and, mortgage books that were sold had to be administered by Financial Conduct Authority regulated companies, and no changes could be made to the terms and conditions of any of the loans that had been sold.<\/p>
<\/p>
In addition to requiring bidders to agree to the protections outlined above, UKAR undertake due diligence on bidders, their proposed servicers and legal title holders of the loans to ensure that they have the necessary policies, procedures and governance in place to treat customers fairly.<\/p>
<\/p>
The details of all NRAM mortgage sales can be found on gov.uk. Both active and non-active lenders are invited to participate in UKAR sales to ensure a competitive process. In relation to the latest asset sale, UKAR\u2019s advisors proactively invited the top 25 active lenders to participate. Notwithstanding this, UKAR have not received a bid from an active lender that covered the full portfolio of assets being sold.<\/p>
<\/p>
Whether to offer customers new mortgage products is a commercial decision for lenders and government does not intervene in individual cases.<\/p>
<\/p>
That said, the government welcomes the voluntary agreement entered into last year by UK Finance working with the FCA. Under this agreement, 59 authorised lenders representing 93 per cent of the UK\u2019s residential mortgage market have agreed common standards to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are currently ineligible, to move to an alternative product provided by their lender, where said lender is able to offer alternative products.<\/p>
<\/p>
HM Treasury has also worked closely with the FCA on their Mortgages Market Study and their planned changes to affordability assessments. These changes remove the regulatory barriers which previously might have prevented borrowers from accessing new mortgage deals, regardless of whether they are with active or inactive lenders. HM Treasury will continue to work closely with the FCA once the changes to their rules are implemented, to monitor the impact this will have on the market.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4051", "label" : {"_value" : "Biography information for John Glen"} } , "answeringMemberConstituency" : {"_value" : "Salisbury"} , "answeringMemberPrinted" : {"_value" : "John Glen"} , "dateOfAnswer" : {"_value" : "2019-05-13", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "251931"} , {"_value" : "251932"} , {"_value" : "251934"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-13T14:27:34.977Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-05-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "UK Asset Resolution"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, pursuant to the Answer of 23 April 2019 to Question 243349, if he will publish the details of the proportion of Northern Rock mortgage holders' loans that were sold to (a) inactive and (b) unregulated lenders between 2011 and 2018.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/465", "label" : {"_value" : "Biography information for Gordon Marsden"} } , "tablingMemberConstituency" : {"_value" : "Blackpool South"} , "tablingMemberPrinted" : [{"_value" : "Gordon Marsden"} ], "uin" : "251933"} , {"_about" : "http://data.parliament.uk/resources/1125485", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1125485/answer", "answerText" : {"_value" : "
Customers have always been protected in UKAR asset sales. The government and UKAR consider the fair treatment of customers a priority for all asset sales and have always included customer protections in line with or that exceeded industry best practice for transactions of this nature.<\/p>
<\/p>
Bidders were required to agree to customer protections, which were non-negotiable, before the bids were assessed on price. These protections included: adherence to the Financial Conduct Authority\u2019s principle of Treating Customers Fairly; where customers were on Standard Variable Rate mortgages, purchasers were restricted in the changes they could make to the Standard Variable Rate for 12 months; and, mortgage books that were sold had to be administered by Financial Conduct Authority regulated companies, and no changes could be made to the terms and conditions of any of the loans that had been sold.<\/p>
<\/p>
In addition to requiring bidders to agree to the protections outlined above, UKAR undertake due diligence on bidders, their proposed servicers and legal title holders of the loans to ensure that they have the necessary policies, procedures and governance in place to treat customers fairly.<\/p>
<\/p>
The details of all NRAM mortgage sales can be found on gov.uk. Both active and non-active lenders are invited to participate in UKAR sales to ensure a competitive process. In relation to the latest asset sale, UKAR\u2019s advisors proactively invited the top 25 active lenders to participate. Notwithstanding this, UKAR have not received a bid from an active lender that covered the full portfolio of assets being sold.<\/p>
<\/p>
Whether to offer customers new mortgage products is a commercial decision for lenders and government does not intervene in individual cases.<\/p>
<\/p>
That said, the government welcomes the voluntary agreement entered into last year by UK Finance working with the FCA. Under this agreement, 59 authorised lenders representing 93 per cent of the UK\u2019s residential mortgage market have agreed common standards to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are currently ineligible, to move to an alternative product provided by their lender, where said lender is able to offer alternative products.<\/p>
<\/p>
HM Treasury has also worked closely with the FCA on their Mortgages Market Study and their planned changes to affordability assessments. These changes remove the regulatory barriers which previously might have prevented borrowers from accessing new mortgage deals, regardless of whether they are with active or inactive lenders. HM Treasury will continue to work closely with the FCA once the changes to their rules are implemented, to monitor the impact this will have on the market.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4051", "label" : {"_value" : "Biography information for John Glen"} } , "answeringMemberConstituency" : {"_value" : "Salisbury"} , "answeringMemberPrinted" : {"_value" : "John Glen"} , "dateOfAnswer" : {"_value" : "2019-05-13", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "251931"} , {"_value" : "251932"} , {"_value" : "251933"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-13T14:27:35.057Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-05-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "UK Asset Resolution"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, what discussions (a) he and (b) Ministers of his Department have had with the Financial Conduct Authority on whether Cerberus Capital Management is a fit and proper organisation to purchase mortgage loans from UK banks and his Department via UKAR.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/465", "label" : {"_value" : "Biography information for Gordon Marsden"} } , "tablingMemberConstituency" : {"_value" : "Blackpool South"} , "tablingMemberPrinted" : [{"_value" : "Gordon Marsden"} ], "uin" : "251934"} ], "itemsPerPage" : 10, "next" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMember.label=Biography+information+for+Gordon+Marsden&_page=1&max-date=2019-05-21", "page" : 0, "startIndex" : 1, "totalResults" : 812, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }