To ask Mr Chancellor of the Exchequer, whether the Government plans to provide help for mortgage holders in the event of an increase in interest rates.
1 September 2014
The Government has taken a number of measures aimed at helping people to avoid mortgage repayment difficulties. The Money Advice Service has been set up by Government to promote understanding of the financial system and raise levels of financial capability across the UK. The Support for Mortgage Interest scheme helps pensioners and those out of work to meet their mortgage payments. Furthermore, all borrowers can seek protection in the Courts using the Pre-Action Protocol, which makes it clear that repossession must always be the last resort for lenders.