View more on these topics

MPs to investigate mortgage problems

The Treasury Select Committee has called on the mortgage industry to give evidence for an upcoming enquiry into the problems facing the UK mortgage market.

It says it will be addressing the problems of mortgage debt and access to mortgage finance. In particular, the inquiry will focus on households affected by the recession and struggling with mortgage arrears, as well as problems in accessing finance for first-time buyers.

The MPs are asking the mortgage industry to submit evidence on the current number of homeowners in mortgage arrears and forecasts for the trend in mortgage arrears over the medium-term the number.

It will be also investigating the characteristics of homeowners who have had their properties repossessed, the number in the process of having their homes repossessed, as well as forecasts for the trend in repossession levels over the medium-term.

The committee also wants to see evidence of treatment by, and the approaches taken, by mortgage lenders towards homeowners in arrears or at risk of repossession.

MPs, led by chairman John McFall, will also be investigating the impact of the credit crunch on access to mortgage finance. The deadline for evidence is July 1.

Recommended

1

Take a long look

As both the Government and the FSA trundle the winding paths towards their very own elephant graveyards, one has to wonder at the bare-faced cheek of an organisation which seeks to defend the indefensible and continues to prop up the rotting struts supporting the disintegrating edifice.

Lords criticise ideas for Euro reform

The House of Lords EU Committee warned the UK government may have insufficiently set out its ideas to the EU on the reform of supervisory bodies and says it is “behind the ball game” on some EU proposals.

The horns of a dilemma

What does the collapse of Keydata mean for investor confidence in structured products?

Hall: I am not sure that retail investors will pick up on this unless they are already invested in Keydata products or products where Keydata acted as the administrator.

Leading Edge – April 2017

There is little doubt 2017 will be a year of political uncertainty. Leading Edge is Royal London Asset Management’s regular review of investment markets. This edition explores some of the impacts that this uncertainty is having on investors, from the pitfalls of prediction within UK equity investing to the dangers of opting for convenience over […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. MPs to investigate mortgage problems
    Yet another enquiry into the mortgage market and this time by a bunch of people many of whom will be out of a job this time next year and are hardly qualified – does it make sense to have a group whose own finances are under the spotlight passing comment, let alone judgment, on matters financial – who will take them or their findings seriously? Yet another waste of time and taxpayers money.

Leave a comment