Mentions:
1: Seema Malhotra (LAB - Feltham and Heston) no help for mortgage prisoners facing soaring SVRs. - Speech Link
2: James Murray (LAB - Ealing North) 200,000 mortgage prisoners in the UK. - Speech Link
3: Seema Malhotra (LAB - Feltham and Heston) prisoners among other mortgage holders.Secondly, it is important not to characterise mortgage prisoners - Speech Link
4: Martin Docherty-Hughes (SNP - West Dunbartonshire) has considered mortgage prisoners. - Speech Link
Mentions:
1: Martin Docherty-Hughes (SNP - West Dunbartonshire) to thank the UK Mortgage Prisoners campaign group, which has assisted me in bringing this Bill to the - Speech Link
Asked by: Chris Evans (Labour (Co-op) - Islwyn)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will announce a timeline for a decision on whether additional measures will be introduced to further support mortgage prisoners.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The Government understands that being unable to switch your mortgage can be extremely stressful. Alongside the Financial Conduct Authority and industry, we have shown we are willing to act through the introduction of a ‘modified affordability assessment’, which removes the regulatory barriers that prevented some customers, who otherwise may have been able to switch, from accessing new products. We are also regularly in contact with key stakeholders, including recently with the UK Mortgage Prisoners campaign group.
The Government remains committed to this issue and will continue to work with industry and wider stakeholders to determine if there are proposals that will meaningly benefit affected borrowers and be fair to other borrowers in the wider market.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Answer of 8 March 2023 to Question 157639 on Mortgages, whether he plans to publish a response to the report entitled Releasing the Mortgage Prisoners, published on 1 March 2023.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The Government understands that being unable to switch your mortgage can be extremely stressful and, alongside the Financial Conduct Authority and industry, have shown we are willing to act, such as through the introduction of a ‘modified affordability assessment’.
The Government remains committed to this issue, and we are considering the proposals put forward in this report very carefully. While we cannot force lenders to lend to borrowers they consider too high a risk, we welcome views on any further practical and proportionate solutions that would meaningfully assist affected borrowers and be fair to other borrowers in the wider market. We are also regularly in contact with key stakeholders, including recently with the UK Mortgage Prisoners campaign group, to discuss potential solutions.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent steps he has taken to support homeowners who are unable to switch to a cheaper mortgage deal.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The Government understands that being unable to switch your mortgage can be extremely stressful. Alongside the Financial Conduct Authority and industry, we have shown we are willing to act through the introduction of a ‘modified affordability assessment’, which removes the regulatory barriers that prevented some customers, who otherwise may have been able to switch, from accessing new products. We are also regularly in contact with key stakeholders, including recently with the UK Mortgage Prisoners campaign group.
The Government remains committed to this issue and will continue to work with industry and wider stakeholders to determine if there are proposals that will meaningly benefit affected borrowers and be fair to other borrowers in the wider market.
Written Evidence Apr. 29 2024
Committee: Public Accounts CommitteeFound: individuals to buy a home with mortgages totalling over £375 billion, representing 23% of total mortgage
Mentions:
1: Findlay, Russell (Con - West Scotland) At least one officer has become ill from inhaling drugs that were being smoked by prisoners. - Speech Link
2: Stewart, Alexander (Con - Mid Scotland and Fife) To ask the Scottish Government, in light of reports that the housing of adult male prisoners at HMP and - Speech Link
3: Constance, Angela (SNP - Almond Valley) The Prison Service has a strong track record of keeping different groups of prisoners separate, and robust - Speech Link
4: Constance, Angela (SNP - Almond Valley) pricing mechanism where costs increase at a rate that is greater than the retail prices index excluding mortgage - Speech Link
Mentions:
1: Rishi Sunak (Con - Richmond (Yorks)) Gentleman did care about supporting working families to pay their bills and to pay their mortgage, why - Speech Link
2: Martin Docherty-Hughes (SNP - West Dunbartonshire) Almost 200,000 mortgage prisoners who borrowed with high street lenders such as Northern Rock have become - Speech Link
3: Rishi Sunak (Con - Richmond (Yorks)) I am familiar with the situation for mortgage prisoners, and it was something that I worked on as Chancellor - Speech Link
Apr. 23 2024
Source Page: I. Universal Credit guidance April 2024 [update of previous guidance, deposited Oct 2023, DEP2023-0791]. 204 docs. II. Letter dated 15/04/2023 from Jo Churchill MP to to the Deposited Papers Clerk regarding documents for deposit in the House libraries. Incl. file list at Annex 1. 9p.Found: includes: • their payments of Universal Credit will stop, including any payments to their landlord or mortgage