Sir Keir Starmer says he thinks the onus should be on lenders rather than borrowers when it comes to help for borrowers whose mortgages have risen. Politics live:
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Ms Crawley sits on a majority of just over 5,000, and her seat could be vulnerable to a Labour surge with the SNP floundering.There was never going to be an announcement today about direct bailout-style funding for those struggling with their mortgages.So what we have instead is a beefing up of existing tools available to lenders and a reintroduction of some of the easements seen during the pandemic.
It's also worth remembering that moving to interest-only or extending a term will ultimately increase the total amount someone pays over the life of the mortgage. He also said that people can go to their banks or lenders and speak about their options, if they are struggling, without it having an impact on their credit rating - although the Financial Conduct Authority said this was the case as early as March.
He added:"They know that the government's been about for 13 years, they know the government crashed the economy last year. He said ministers should"require lenders to take the steps" when it comes to mortgage holders that would"put in proper measures to shield them or support them".As we mentioned earlier, it's been seven years since the UK voted to the leave the EU.
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