Mortgage prisoners: ‘Inaction’ leads to interest rate costs of 9% – Rishi Sunak pushed | Personal Finance | Finance
“We hope the financial industry, regulators, mortgage brokers, advisers and MPs can all show their support for UK Mortgage Prisoners and agree that we need to halt all repossessions whilst this additional review is completed by the FCA.”
The support letter being referred to (and other details) can be found at www.ukmortgageprisoners.com/moratoriumonrepossessions.
The Government has attempted to support the mortgage market in recent months as in March, the mortgage guarantee scheme was announced.
Under the scheme, mortgages are backed by the Government and this means if holders can’t make the repayments, the state would step in to protect and support lenders.