PARLIAMENTARY EARLY DAY MOTION
SUPPORT FOR MORTGAGE INTEREST RATES (8 November 2010)

That this House is concerned about the impact of the reduction to Support for Mortgage Interest rates from 6.08 per cent. to 3.63 per cent.; recognises some of the support was in need of reform, but notes that these reforms will affect 225,000 people including disabled people and pensioners; is further concerned that claimants were informed only days before and that the letter to claimants contained serious mistakes; is further concerned that the 40 per cent. reduction was implemented before securing a reduction in rates with mortgage lenders and as a result many people face a real threat of eviction; and calls on the Government to work with lenders quickly, to find an urgent solution to this situation and help stop vulnerable people from losing their homes.

Sponsored by:
Karl Turner (Labour)