Petition · past parliament
Force banks to reduce mortgage rate for everyone including fixed rate mortgages.
Rejected
21 signatures
What the petition asks
COVID has brought us into an unknown extraordinary times.Realising this Govt and BOE have reduced interest rates to 0.1% to help individuals in difficulty and help businesses.
Many of the mortgages are fixed type which means they won't go down, which won't help struggling individuals and business.
Many of the mortgages are fixed type which means they won't go down, which won't help struggling individuals and business.
Govts. have underwritten banks in financial crisis. It is time for banks to show some sense and solidarity with public and reduce all mortgage payments including fixed rate ones.
Else reduced base rates will ultimately land up in rich bankers pockets and bonuses.
It should not be always correct that " Profits are personalised (bankers) and losses are Nationalised (public)"
Parliament has once a lifetime opportunity to show it works for public and disperse belief of working for bankers.
Else reduced base rates will ultimately land up in rich bankers pockets and bonuses.
It should not be always correct that " Profits are personalised (bankers) and losses are Nationalised (public)"
Parliament has once a lifetime opportunity to show it works for public and disperse belief of working for bankers.
Why it was rejected
There was already a petition about this issue. Duplicates are rejected so signatures collect in one place.
You may wish to sign this petition calling for the same action.
Encourage lenders to suspend interest, fees and repayments during COVID-19: Encourage lenders to suspend interest, fees and repayments during COVID-19
Since starting this petition, many UK banks have announced measures to help people who are experiencing financial difficulties due to coronavirus. You should look at your bank's website or contact them directly to find out more.
You can read the Financial Conduct Authority's announcement on the temporary financial relief that banks can offer customers here: https://www.fca.org.uk/news/press-releases/fca-confirms-temporary-financial-relief-customers-impacted-coronavirus
You can find out more about coronavirus and how you can protect yourself and others here:
NHS website: https://www.nhs.uk/conditions/coronavirus-covid-19/
UK Government website: https://www.gov.uk/coronavirus
You can read NHS tips to help if you are worried about coronavirus here: https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips
You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.
Find out more and watch the Committee put questions suggested by petitioners to Government Ministers and the Deputy Chief Medical Officer: https://committees.parliament.uk/committee/326/petitions-committee/news/145767/committee-question-deputy-chief-medical-officer-and-ministers-on-coronavirus-response/
Read correspondence with Government Ministers asking further questions: https://committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/
Encourage lenders to suspend interest, fees and repayments during COVID-19: Encourage lenders to suspend interest, fees and repayments during COVID-19
Since starting this petition, many UK banks have announced measures to help people who are experiencing financial difficulties due to coronavirus. You should look at your bank's website or contact them directly to find out more.
You can read the Financial Conduct Authority's announcement on the temporary financial relief that banks can offer customers here: https://www.fca.org.uk/news/press-releases/fca-confirms-temporary-financial-relief-customers-impacted-coronavirus
You can find out more about coronavirus and how you can protect yourself and others here:
NHS website: https://www.nhs.uk/conditions/coronavirus-covid-19/
UK Government website: https://www.gov.uk/coronavirus
You can read NHS tips to help if you are worried about coronavirus here: https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips
You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.
Find out more and watch the Committee put questions suggested by petitioners to Government Ministers and the Deputy Chief Medical Officer: https://committees.parliament.uk/committee/326/petitions-committee/news/145767/committee-question-deputy-chief-medical-officer-and-ministers-on-coronavirus-response/
Read correspondence with Government Ministers asking further questions: https://committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/
Timeline
| 19 Mar 2020 | Petition opened for signatures |
| 15 Apr 2020 | Rejected by the Petitions Committee |
Key facts
Signatures
21
Status
Rejected
Rejected
15 Apr 2020
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Source: the official petition page. Last checked 15 Jul 2026.