Written Question·Treasury·UIN 3177
Debts
Tabled: 30 August 2024
Answered: 5 September 2024
Question
Mr Richard Holden
Conservative — Basildon and Billericay
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of (a) restricting early repayment charges on debt to benefit customers and (b) encouraging early repayment.
Answer
Tulip SiddiqWhile specific decisions around early repayment charges on loans are a commercial matter for lenders in which the Government does not intervene, there are rules that govern their use. For mortgages, the Financial Conduct Authority rules set out that lende...
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