Back The Guardian Mortgage prisoners ‘distressed and betrayed’ as MPs reject interest cap
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1 May 2:00am

Mortgage prisoners ‘distressed and betrayed’ as MPs reject interest cap

The Guardian
Borrowers still trapped into paying 5%-plus rate with inactive lenders that do not offer cheaper deals Mortgage borrowers trapped on interest rates of more than 5% say they are “disappointed, distressed and betrayed” after MPs voted against a cap on how much lenders can charge. The plan to limit standard variable rates (SVRs) charged by inactive lenders was an amendment to the financial services bill added in the House of Lords to help a group of about 250,000 borrowers
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