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<p>Recognising that this is a concerning time for mortgage borrowers, the Chancellor
worked with mortgage lenders, UK Finance and the Financial Conduct Authority to agree
a new Mortgage Charter to support borrowers struggling with mortgage payments. The
Charter sets out the standards signatory lenders will adopt when helping their customers,
including new flexibilities to help customers manage their mortgage payments over
a short period. The Government has also taken measures aimed at helping people to
avoid repossession.</p><p> </p><p>House prices are fundamentally driven by the balance
of supply and demand in the market for housing.</p>
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