ENDING OF MORTGAGE FIXED RATE AGREEMENTS

Motion Text

That this House notes that the Financial Services Authority estimates that during 2008 1.4 million borrowers are likely to face higher mortgages following the end of their fixed rate agreements and applauds the joint initiative of the Money Advice Trust and the Council of Mortgage Lenders in disseminating free early advice to these borrowers and highlighting key sources of independent and free confidential advice, such as Citizens Advice Bureaux, Advice UK and Northern Ireland agencies, National Debtline, Shelter and the Consumer Credit Counselling Service.