Baroness Laing of Elderslie
Main Page: Baroness Laing of Elderslie (Conservative - Life peer)Department Debates - View all Baroness Laing of Elderslie's debates with the HM Treasury
(1 year, 5 months ago)
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Hon. Members
Madam Deputy Speaker (Dame Eleanor Laing)
Order. [Interruption.] No; do not argue with me.
Madam Deputy Speaker
No, you are not. That question is finished. There is a danger that the House might not be able to hear the question from the hon. Member for Strangford (Jim Shannon).
Jim Shannon (Strangford) (DUP)
There is no danger of that when you are in the Chair, Madam Deputy Speaker.
I thank the Minister for his answers to some very difficult questions. It has been said that 1.5 million households, including some of my Strangford constituents, are set to come off fixed mortgage deals this year and face a sharp rise in their monthly repayments—up to 1.56 percentage points from Tuesday. Has the Minister made an assessment of the impact on those who are considering buying their first house in the next year or so, and will he assure the House that discussions are taking place with local banks on what we can do to support people through the process of buying their first homes amid shocking price increases?