Committee to conduct inquiry into mortgage finance and arrears

Date:Thursday 18th June 2009
Author: Susanna Kavka

An inquiry concerning mortgage finance is set to take place, it has been revealed.

To be conducted by the Treasury Committee, the investigation will look at a number of issues, including households that are struggling with their home loan repayments and are facing possible repossessions.

In addition, the problems being experienced by some first-time buyers when it comes to accessing finance will also come under scrutiny.

The inquiry will also seek evidence regarding the number of homeowners who have lost their homes as a result of mortgage problems and forecasts concerning the trends of home loan arrears over the medium-term.

The deadline for the submission of information to the investigation has been set as Wednesday July 1st.

Seeking to examine the expenditure, administration and policy of a range of institutions, including the Bank of England and the Financial Services Authority, the Treasury Committee is currently chaired by John McFall.