Ed Davey
My constituent Vanessa has contacted me in floods of tears. Her mortgage payments have risen by £500 a month. She and her husband were already struggling with high energy bills and high food bills; now, like one in four mortgage holders across the country, they fear losing their home. “We are out of options and heartbroken,” says Vanessa. Will the Prime Minister introduce a new mortgage protection fund, paid for by reversing his tax cuts for the banks? Will he help Vanessa to keep her home?
The Prime Minister
I am deeply sorry to hear about Vanessa’s circumstances. I want her to know that the plan that the Chancellor announced last week will help families like hers up and down the country, because it is the right plan to tackle inflation, limit the increase in mortgage rates and ensure confidence in our economy. There is specific help that the Chancellor announced, offering low-interest loans to homeowners on benefits to cover interest on mortgages of up to £250,000. The Chancellor is also meeting mortgage lenders in the coming weeks. We will continue to do all we can to support those homeowners who are struggling with their payments.
[Official Report, 23 November 2022, Vol. 723, c. 285.]
Letter of correction from the Prime Minister, the right hon. Member for Richmond (Yorks) (Rishi Sunak):
An error has been identified in my response to the right hon. Member for Kingston and Surbiton (Ed Davey) during Prime Minister’s Question Time.
The correct response should have been:
The Prime Minister
I am deeply sorry to hear about Vanessa’s circumstances. I want her to know that the plan that the Chancellor announced last week will help families like hers up and down the country, because it is the right plan to tackle inflation, limit the increase in mortgage rates and ensure confidence in our economy. There is specific help that the Chancellor announced, offering low-interest loans to homeowners on benefits to cover interest on mortgages of up to £200,000. The Chancellor is also meeting mortgage lenders in the coming weeks. We will continue to do all we can to support those homeowners who are struggling with their payments.