Written question asked by Lord Kirkwood of Kirkhope (Liberal Democrat) on Tuesday, 23 November 2004, in the House of Commons. It was due for an answer on Monday, 29 November 2004. It was answered by Stephen Timms (Labour) on Monday, 29 November 2004 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, what further steps he proposes to take to protect the financial interests of those applying for mortgages in the UK.

Answer: Sir Archy Kirkwood: To ask the Chancellor of the Exchequer what further steps he proposes to take to protect the financial interests of those applying for mortgages in the UK. [199590] Mr. Timms: The Financial Services Authority assumed responsibility for regulating first charge mortgages, including advising and arranging on mortgages, on 31 October 2004. The FSA will review how the new regime is functioning in due course. The Government intend to bring forward legislation to bring Home Reversion schemes under FSA regulation as soon the Parliamentary timetable allows.

Secondary information