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Banks: Loans

Volume 498: debated on Monday 2 November 2009

To ask the Chancellor of the Exchequer what his policy is on encouraging the provision of mortgages and lending by UK banks to existing borrowers who have not defaulted on their mortgages; and if he will make a statement. (296220)

The Government are taking action to ensure mortgages continue to be available for creditworthy borrowers. On 19 January 2009, the Government announced a package of measures designed to reinforce the stability of the financial system, to increase confidence and capacity to lend, and in turn to support the recovery of the economy. Further information is available at:

www.hm-treasury.gov.uk/press_05_09.htm

These measures build on those announced on 8 October last year.

On 19 October 2009, the FSA published its Mortgage Market Review, which sets out proposals to help ensure a mortgage market that is sustainable for all participants. This document is available on the FSA's website:

www.fsa.gov.uk