September 17, 2021

MP Now News

Mortgage News

Banks, Gov’t Commit To Tackle Plight Of Mortgage ‘Prisoners’

Law360, London (July 23, 2021, 3:08 p.m. BST) – The UK’s leading lenders and government will work to find solutions for tens of thousands of people stuck in mortgage deals with inactive companies when a government review of the problem is completed said HM Treasury.

Institutions like Barclays Bank UK PLC, HSBC UK Bank PLC, NatWest Group PLC and a trade organization, UK Finance, have pledged to work with the government to help the so-called mortgage prisoners after a review by the Financial Conduct Authority, the Treasury Department said on Thursday.

The review, due to run from this month through October, will look into information about people who …