A full-scale endowment mortgages review may be a step closer as backbench and opposition MPs increased pressure on the government to take action.
An Early Day Motion calling for the Government to investigate the extent of endowment misselling is being forwarded by Lib Dem financial spokesman Dr Vincent Cable.
The motion says “much distress” has been caused by the controversy and asks ministers to “establish the scale of past misselling to name and shame the worst perpetrators and establish arrangements by which the industry can compensate the victims.”
Labour backbencher Paul Flynn says: “I don't accept the conclusion of Financial Services Authority that there doesn't need to be a review. There needs to be one and there is strong support in parliament.”