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Chancellor's plans to help mortgage holders struggling with high interest rates branded ‘weak’ and ‘paper thin’
The Chancellor of the Exchequer Jeremy Hunt speaking during the British Chambers Commerce Annual Global conference, at the QEII Centre, London, May 17, 2023.
CHANCELLOR Jeremy Hunt’s agreement with lenders to help mortgage holders struggling with high interest rates was slammed by opposition MPs today as “weak” and “paper thin.”
After summoning banks and building societies to Downing Street to help quell the crisis today, Mr Hunt said they agreed to implementing a 12-month minimum before repossessing homes.
He also said the lenders agreed to allow struggling borrowers to extend the terms of their mortgages or move to an interest-only plan temporarily “no questions asked.”
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