The Financial Services Act 2021 was introduced in the House of Commons on 21 October 2020 and received Royal Assent on 29 April 2021. It is the first financial services primary legislation passed by the UK Parliament since the UK left the European single market, making reforms in 22 distinct areas.

The Financial Services Act 2021 was introduced in the House of Commons on 21 October 2020 and received Royal Assent on 29 April 2021. It is the first financial services primary legislation passed by the UK Parliament since the UK left the European single market, making reforms in 22 distinct...

I rise to speak to amendment 8. I listened carefully to the Minister’s comments, and he has engaged across the House very frequently on this issue. I know this challenge is not of his making. It is not even of this Government’s making, but it is the responsibility of the...

I rise to speak to amendment 8. I listened carefully to the Minister’s comments, and he has engaged across the House very frequently on this issue. I know this challenge is not of his making. It is not even of this Government’s making, but it is the responsibility of the...

I associate myself with the powerful speech by my hon. Friend the Member for Feltham and Heston (Seema Malhotra). I understand where the hon. Member for Thirsk and Malton (Kevin Hollinrake) was coming from, but I really believe that we could make some progress on this issue this evening. That...

I associate myself with the powerful speech by my hon. Friend the Member for Feltham and Heston (Seema Malhotra). I understand where the hon. Member for Thirsk and Malton (Kevin Hollinrake) was coming from, but I really believe that we could make some progress on this issue this evening. That...

It is a pleasure to speak on this issue, Madam Deputy Speaker, and I thank you for giving me the opportunity to speak in the debate this evening.

As other Members have, I will speak to Lords amendment 8 on mortgage prisoners. In an intervention on the Minister earlier, I expressed...

It is a pleasure to speak on this issue, Madam Deputy Speaker, and I thank you for giving me the opportunity to speak in the debate this evening.

As other Members have, I will speak to Lords amendment 8 on mortgage prisoners. In an intervention on the Minister earlier, I expressed...

I very much support Lords amendment 1 on the duty of care. As the Minister will recall, we have raised this during the previous stages of the Bill, in Committee and on the Floor of the House. We think that a financial services duty of care has never been more...

I very much support Lords amendment 1 on the duty of care. As the Minister will recall, we have raised this during the previous stages of the Bill, in Committee and on the Floor of the House. We think that a financial services duty of care has never been more...

Mr Deputy Speaker, you will be pleased to know that I will keep my remarks incredibly focused and brief. They will be entirely on Lords amendment 8, which I am afraid I cannot support.

Let me first congratulate and thank the Economic Secretary for all his hard work in bringing the...

Mr Deputy Speaker, you will be pleased to know that I will keep my remarks incredibly focused and brief. They will be entirely on Lords amendment 8, which I am afraid I cannot support.

Let me first congratulate and thank the Economic Secretary for all his hard work in bringing the...

I start by paying tribute to Rachel Neale and the UK Mortgage Prisoners group for their incredible resilience and the way that they have worked for the last two years with the all-party parliamentary group on mortgage prisoners, which I co-chair, to help to get a pragmatic solution to the...

I start by paying tribute to Rachel Neale and the UK Mortgage Prisoners group for their incredible resilience and the way that they have worked for the last two years with the all-party parliamentary group on mortgage prisoners, which I co-chair, to help to get a pragmatic solution to the...

I have been contacted by many constituents who are in a precarious position and do not have such options. My hon. Friends the Members for North Antrim (Ian Paisley) and for South Antrim (Paul Girvan) have conveyed to me that some of their constituents are also in that position. I...

I have been contacted by many constituents who are in a precarious position and do not have such options. My hon. Friends the Members for North Antrim (Ian Paisley) and for South Antrim (Paul Girvan) have conveyed to me that some of their constituents are also in that position. I...

I thank the hon. Gentleman, as ever, for his contribution. I will go on to explain the situation of the remaining 125,000 individuals who could be categorised in that way, the actions that we have taken to date and

what we will continue to look for. If that category can...

I thank the hon. Gentleman, as ever, for his contribution. I will go on to explain the situation of the remaining 125,000 individuals who could be categorised in that way, the actions that we have taken to date and

what we will continue to look for. If that category can...

I know that the problem the Minister is trying to solve is not of his making. The problem originated when the affordability rules were changed pursuant to the financial crisis. The affordability rules were waived for people with their existing lenders who wanted to move from one fixed-rate deal, when...

I know that the problem the Minister is trying to solve is not of his making. The problem originated when the affordability rules were changed pursuant to the financial crisis. The affordability rules were waived for people with their existing lenders who wanted to move from one fixed-rate deal, when...

I thank my hon. Friend, who, without equal in this House, has done so much to champion mortgage prisoners. I hope he will carry on working with us as we continue to improve our understanding and the quality of the data that could underpin further interventions.

I can reaffirm to the...

I thank my hon. Friend, who, without equal in this House, has done so much to champion mortgage prisoners. I hope he will carry on working with us as we continue to improve our understanding and the quality of the data that could underpin further interventions.

I can reaffirm to the...

Could we agree a basic principle that identical borrowers—the Minister uses the example of two similar borrowers in similar situations—should be treated exactly the same? One should not be treated better than the other. Will he agree to a principle that, if a person is a UK borrower and is...

Could we agree a basic principle that identical borrowers—the Minister uses the example of two similar borrowers in similar situations—should be treated exactly the same? One should not be treated better than the other. Will he agree to a principle that, if a person is a UK borrower and is...

I would be happy to seek solutions for those mortgage holders of active and inactive lenders, but my hon. Friend must recognise that different individuals have different characteristics: different loan-to-valuation ratios; different credit histories; different income flows; and different histories in their financial situation. Those characteristics cannot be factored out....

I would be happy to seek solutions for those mortgage holders of active and inactive lenders, but my hon. Friend must recognise that different individuals have different characteristics: different loan-to-valuation ratios; different credit histories; different income flows; and different histories in their financial situation. Those characteristics cannot be factored out....

I will keep my remarks short, because I know it is late and we have a lot of work to do.

There are many amendments to welcome from the other House, particularly the regulation of “buy now, pay later” by the Financial Conduct Authority, where there is clear risk of consumer...

I will keep my remarks short, because I know it is late and we have a lot of work to do.

There are many amendments to welcome from the other House, particularly the regulation of “buy now, pay later” by the Financial Conduct Authority, where there is clear risk of consumer...

I, too, will keep my remarks brief. In the debate tonight I, on behalf of the Liberal Democrats, will be opposing the Government’s motions to disagree with Lords amendments 1 and 8.

In particular, I would like to focus my comments on Lords amendment 8. This amendment would offer significant relief,...

I, too, will keep my remarks brief. In the debate tonight I, on behalf of the Liberal Democrats, will be opposing the Government’s motions to disagree with Lords amendments 1 and 8.

In particular, I would like to focus my comments on Lords amendment 8. This amendment would offer significant relief,...

There is a famous saying, is there not, that an Englishman’s home is his castle, but the problems born out of the banking crisis in 2008 still persist. Indeed, there are a quarter of a million households with mortgages affected by lenders who suffered at that time. They are with...

There is a famous saying, is there not, that an Englishman’s home is his castle, but the problems born out of the banking crisis in 2008 still persist. Indeed, there are a quarter of a million households with mortgages affected by lenders who suffered at that time. They are with...

I am extremely grateful to all Members who have contributed to this debate. I will not to rehearse the arguments that I made at the outset, but will respond in the right spirit, in the right way, to the constructive and careful analysis that we have had from many Members...

I am extremely grateful to all Members who have contributed to this debate. I will not to rehearse the arguments that I made at the outset, but will respond in the right spirit, in the right way, to the constructive and careful analysis that we have had from many Members...

I beg to move, That this House disagrees with Lords amendment 1.

I beg to move, That this House disagrees with Lords amendment 1.

I am delighted to speak again on the Financial Services Bill following its passage through the other place, where it has been well looked after by my colleagues Earl Howe, Lord True and Baroness Penn. As our first major piece of financial services legislation since leaving the EU, the Bill...

I am delighted to speak again on the Financial Services Bill following its passage through the other place, where it has been well looked after by my colleagues Earl Howe, Lord True and Baroness Penn. As our first major piece of financial services legislation since leaving the EU, the Bill...

I thank their lordships for their work in considering the Bill. In particular, I thank Lord Tunnicliffe and Lord Eatwell, who led for the Opposition in the relevant debates.

Let me start tonight with some of the areas where we agree with what the House of Lords has done with the...

I thank their lordships for their work in considering the Bill. In particular, I thank Lord Tunnicliffe and Lord Eatwell, who led for the Opposition in the relevant debates.

Let me start tonight with some of the areas where we agree with what the House of Lords has done with the...