MORTGAGE INFORMATION FOR CONSUMERS

Motion Text

That this House welcomes the recent launch of the comparative tables by the Financial Services Authority, but notes that the tables do not provide consumers with the ability to search the vast range of mortgage products for those that comply with the Government's CAT (Charges, Access, Terms) standard which gives consumers confidence that there are no hidden charges for clauses; further notes that they do not allow consumers to search by cost over five years, seven years or by the total amount payable on a mortgage; and calls on the Government to require the Financial Services Authority to deliver this information so that consumers can make an informed choice.