Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what her Department's policy is on lenders threatening to charge additional fees and penalties on the repayment of loans under the Bounce Back Loan Scheme; and whether her Department has taken enforcement action against such lenders.

As part of the scheme design, no early repayment fees or other lender-levied fees of any type following drawdown were permitted.

The Lender Audit and Assurance Programme verifies appropriate administration of Covid Loan Scheme portfolios by accredited Delivery Partners in line with their contractual obligations. If any concerns are identified, remedial actions are agreed with Delivery Partners to rectify areas failing to meet guarantee requirements.

Should a person or organisation have any particular concerns or incidents to raise, these can be directed to the British Business Bank via the contact form available at: https://www.british-business-bank.co.uk/contact-details/.