Philip Dunne
Main Page: Philip Dunne (Conservative - Ludlow)Department Debates - View all Philip Dunne's debates with the HM Treasury
(2 years, 1 month ago)
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Andrew Griffith
Not only is that a good idea, it is a Conservative idea that we have already introduced. I am glad the right hon. Gentleman has belatedly latched on to it.
Philip Dunne (Ludlow) (Con)
With interest rates rising around the world, many others countries are considering more imaginative ways of enabling those with mortgages to continue to pay. Will my hon. Friend look at the schemes operating in the United States that allow lenders to extend the duration of a mortgage to allow payments to remain on an even keel and, therefore, to remain more affordable for hard-pressed households?
Andrew Griffith
Yes, I will do that. My right hon. Friend is right to point to the fact that mortgage rates have been rising throughout the world. This Government will always be on the side of trying to protect people with mortgages. Lenders are responsible and are willing to extend. The advice is that people should always speak to their lender if they have difficulties. I will certainly look at the case he mentions.