Mortgage Market Debate

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Department: HM Treasury

Mortgage Market

Catherine West Excerpts
Tuesday 13th June 2023

(1 year, 5 months ago)

Commons Chamber
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Andrew Griffith Portrait Andrew Griffith
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The hon. Lady raises the plight of those who have been unable to access even the mortgages at elevated levels that we have been talking about here. I understand the problem; it is something I have given significant time to with my officials and I have read the recent work conducted by the London School of Economics. I hope that, in that spirit, she will also recognise that it is a complex issue and that within that overall collective there are many different individual fact patterns. While I am open to finding solutions, I hope she will recognise that it is not easy and there is no one-size-fits-all answer.

Catherine West Portrait Catherine West (Hornsey and Wood Green) (Lab)
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The Minister says there are 1,100,000 people affected by the mortgage market chaos inspired by the Truss-Kwarteng abracadabra magic last autumn. How many renters are affected? There is a renting crisis in my constituency and people simply cannot afford an overnight 20% increase in their rent.