Written Question·Treasury·UIN 52016
Mortgages: Competition
Tabled: 13 May 2025
Answered: 19 May 2025
Question
Lisa Smart
Liberal Democrat — Hazel Grove
To ask the Chancellor of the Exchequer, what recent estimate her Department has made of the number of homeowners who are unable to switch to a cheaper mortgage due to changes in the (a) lending regulations and (b) policies of their current lender.
Answer
Emma ReynoldsAccording to the Financial Conduct Authority (FCA), the vast majority of borrowers switch within 6 months of the end of an introductory deal. However, the Government understands the challenges facing mortgage borrowers that struggle to switch to new loans...
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