BBC Radio 4 programme on Mortgage Prisoners

[Brendan Burgess]

BBC Radio 4 - Currently, The Big Mortgage Time Bomb

Vicky Spratt investigates the thousands of people trapped in high interest mortgages.

www.bbc.co.uk

Most of theirs seem to be former customers of Northern Rock.

Very similar issues to what we have in Ireland.

Government assured consumers that no one would lose out.
There were warnings that vulture funds would charge higher rates.
Now they are charging variable rates of 8% compared to fixed rates of about 4% available to new business.
Bank of England and Government turning their backs.
Bank of England saying that it's a much smaller number of people affected than researchers claim.

Lord John Sharkey has a bill in the House of Lords calling for an enquiry into the scandal
sharkeyjk@parliament.uk

There was a bill some years ago calling for rates to be capped but the Conservative government vetoed it.

 

[Brendan Burgess]

There is a group campaigning on their behalf in the UK.

UK Mortgage Prisoners | mortgage help

At UK Mortgage Prisoners, we are dedicated to fighting for mortgage reform, and fair treatment for trapped borrowers. Our support services are here to help those facing mortgage difficulties and prevent the threat of repossession. The organization provides support and advice to those affected...

www.ukmortgageprisoners.com