The Treasury Select Committee will launch an inquiry into Britain’s struggling mortgage market to examine the sharp rise in repossessions and the chronic shortage of affordable home loans for first-time buyers.
The inquiry will review the current forecast on the number of families who could lose their homes this year and examine lenders’ treatment of financially overstretched customers, particularly those considered 'sub-prime'.
The TSC will also look into the success of Government schemes designed to reduce the huge numbers of repossessions which are expected this year. Sale-and-lease-back schemes and the availability of mortgages will also come under the spot light.
Financial Times, The Times