SUPPORT FOR MORTGAGE INTEREST RATES

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.