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Mortgages: Debts

Volume 497: debated on Tuesday 13 October 2009

To ask the Chancellor of the Exchequer what estimate he has made of the number of repossessions arising from actions by sub-prime lenders in the last 12 months; and whether such repossessions are reflected in the repossession statistics compiled by the Financial Services Authority. (291812)

The Government have made no estimate of the number of repossessions arising from actions by specific categories of lenders in the last 12 months. The Financial Services Authority (FSA) publishes quarterly data on residential mortgage lending, covering the period from the first quarter of 2007, available at:

http://www.fsa.gov.uk/pages/Doing/Regulated/Returns/IRR/statistics/index.shtml

These data are collected from all lenders with FSA authorisation, regardless of individual firm or product characteristics.