Asked by: Sarah Edwards (Labour - Tamworth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to help support mortgage prisoners.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
The Government understands the challenges that mortgage prisoners face and will work with regulators and the industry to ensure that this issue is properly considered.
There are significant measures in place to protect vulnerable mortgage borrowers across the mortgage market, including mortgage prisoners. Financial Conduct Authority (FCA) rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support. Closed book lenders must also comply with the FCA’s Consumer Duty, which ensures firms prioritise fair treatment and good outcomes for their customers.
Additionally, the Government has a number of measures in place to help people to avoid repossession, including Support for Mortgage Interest (SMI) loans for those in receipt of an income-related benefit; the Housing Loss Prevention Advice Service (HLPAS); and protection in the courts through the Pre-Action Protocol, which makes it clear that repossession must always be the last resort for lenders.
Asked by: Sarah Edwards (Labour - Tamworth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department plans to support the road haulage industry to meet government net zero targets through the National Wealth Fund.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The National Wealth Fund will invest in pursuit of the government’s growth and clean energy priorities to support the delivery of the Industrial Strategy and Britain’s acceleration to net zero. The National Wealth Fund will continue to invest in the UK Infrastructure Bank’s previous priority sectors, which include transport and clean energy.
Individual investments will be considered on a case-by-case basis in line with the NWF’s mandate and strategic priorities, which can be found on www.uknwf.org.uk.