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EXPANDING ACCESS TO RETIREMENT INTEREST-ONLY MORTGAGES

Early day motion 1168, tabled 17 April 2018 by Stephen Lloyd (Liberal Democrat). Signed by 26 members.

That this House welcomes the decision of the Financial Conduct Authority to recognise retirement interest-only mortgages as standard mortgages; recognises that as a population we are living longer; is concerned that the actions of mortgage lenders may threaten elderly homeowners holding interest-only mortgages with repossession once they reach the age of 75; and urges Santander and other major mortgage lenders to follow the example set by Nationwide and other high street lenders to allow interest-only mortgages to customers up to the age of 85 and beyond.

Signatures by party: Scottish National Party 8, Liberal Democrat 5, DUP 3, Labour 3, Conservative 2, Plaid Cymru 2, Green 1, Independent 1, Labour/Co-operative 1.