Lords second reading. Agreed to on question. Bill committed to a Committee of the Whole House.

Lords second reading. Agreed to on question. Bill committed to a Committee of the Whole House.

My Lords, I begin by recognising the work of the noble Lord, Lord Sharkey, in bringing forward the Bill, and bringing this issue to this House on multiple occasions on behalf of thousands of families who are affected by this issue. I also commend his efforts in his role as...

My Lords, I begin by recognising the work of the noble Lord, Lord Sharkey, in bringing forward the Bill, and bringing this issue to this House on multiple occasions on behalf of thousands of families who are affected by this issue. I also commend his efforts in his role as...

My Lords, mortgage prisoners are people who are stuck with their existing lenders and cannot access a better deal such as a fixed rate. As a result, mortgage prisoners continue to pay interest rates on their mortgages at around four percentage points over normal market rates, costing them hundreds

of...

My Lords, mortgage prisoners are people who are stuck with their existing lenders and cannot access a better deal such as a fixed rate. As a result, mortgage prisoners continue to pay interest rates on their mortgages at around four percentage points over normal market rates, costing them hundreds

of...

My Lords, I apologise to the noble Lord, Lord Sharkey, and to the House for being a few seconds late, due to a power failure on the rail network. I welcome the opportunity to participate on his Bill and I thank the noble Lord for his persistence.

Seemingly, the FCA’s response...

My Lords, I apologise to the noble Lord, Lord Sharkey, and to the House for being a few seconds late, due to a power failure on the rail network. I welcome the opportunity to participate on his Bill and I thank the noble Lord for his persistence.

Seemingly, the FCA’s response...

My Lords, I want to begin with a confession: I did not know much about the scandal of mortgage prisoners until just a few weeks ago. It surprised me how long this has been left unresolved. I felt compelled to speak to the plight of mortgage prisoners because, when a...

My Lords, I want to begin with a confession: I did not know much about the scandal of mortgage prisoners until just a few weeks ago. It surprised me how long this has been left unresolved. I felt compelled to speak to the plight of mortgage prisoners because, when a...

My Lords, it is a pleasure to follow the right reverend Prelate the Bishop of Chelmsford, who really cut to the nub of this issue and the reason for this Bill. This is a case of extreme, long-term injustice in which people suffer through absolutely no fault of their own....

My Lords, it is a pleasure to follow the right reverend Prelate the Bishop of Chelmsford, who really cut to the nub of this issue and the reason for this Bill. This is a case of extreme, long-term injustice in which people suffer through absolutely no fault of their own....

My Lords, it is a pleasure to speak in this debate. I begin by congratulating the noble Lord, Lord Sharkey, on his Bill and on his opening speech today. I thank him for bringing this issue to the attention of your Lordships’ House, not only through this Bill but through...

My Lords, it is a pleasure to speak in this debate. I begin by congratulating the noble Lord, Lord Sharkey, on his Bill and on his opening speech today. I thank him for bringing this issue to the attention of your Lordships’ House, not only through this Bill but through...

The noble Lord did not refer to my questions about the UK Financial Ombudsman Service. I understand that this is a new situation. Perhaps he could write to me about that.

The noble Lord did not refer to my questions about the UK Financial Ombudsman Service. I understand that this is a new situation. Perhaps he could write to me about that.

I will happily do so.

12.14 pm

I will happily do so.

12.14 pm

My Lords, I thank everybody who has spoken so very powerfully about the plight of the mortgage prisoners. It is important to make one point about the mortgage prisoners: they are like everybody else in every other respect. They are not a delinquent or feckless part of society. They are...

My Lords, I thank everybody who has spoken so very powerfully about the plight of the mortgage prisoners. It is important to make one point about the mortgage prisoners: they are like everybody else in every other respect. They are not a delinquent or feckless part of society. They are...

As I tried to indicate in my remarks, we will continue to engage and look at that report, but I cannot guarantee a reply on any particular timescale.

As I tried to indicate in my remarks, we will continue to engage and look at that report, but I cannot guarantee a reply on any particular timescale.

I close by reminding everybody that this is a current situation. Lots of people are suffering very badly indeed because of it, and it is not getting any better. So I close with Lenin’s favourite question: what is to be done? I beg to move.

I close by reminding everybody that this is a current situation. Lots of people are suffering very badly indeed because of it, and it is not getting any better. So I close with Lenin’s favourite question: what is to be done? I beg to move.

This proposed law would require the government to hold a public inquiry as soon as reasonably practicable into the circumstances surrounding mortgage prisoners.

This proposed law would require the government to hold a public inquiry as soon as reasonably practicable into the circumstances surrounding mortgage prisoners.

To ask His Majesty's Government how many residential mortgages were handled by or on behalf of UK Asset Resolution in each 12-month period beginning with 1 July 2017; for each period what were (1) the number of compulsory repossessions and sales of underlying security; (2) the average surplus or shortfall...

To ask His Majesty's Government how many residential mortgages were handled by or on behalf of UK Asset Resolution in each 12-month period beginning with 1 July 2017; for each period what were (1) the number of compulsory repossessions and sales of underlying security; (2) the average surplus or shortfall...

To ask the Chancellor of the Exchequer, how much UK Asset Resolution Limited spent on equality and diversity training in the 2022-23 financial year.

To ask the Chancellor of the Exchequer, how much UK Asset Resolution Limited spent on equality and diversity training in the 2022-23 financial year.

An overview of how many mortgage-holders became trapped in expensive deals, and of efforts made to help resolve the situation.

An overview of how many mortgage-holders became trapped in expensive deals, and of efforts made to help resolve the situation.