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MPs open inquiry into mortgage market

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MPs open inquiry into mortgage market

The Treasury Select Committee has announced that it will undertake a brief inquiry into the mortgage market, to investigate how the banking crisis has affected the availability of mortgage finance. 

Focusing on first time buyers and those facing mortgage arrears and the risk of repossession, the inquiry will look at approaches taken by lenders and whether the treatment of homeowners by financial institutions has been fair.
MPs will also assess the effectiveness of the FSA in dealing with issues such as repossession and how the regulatory approach has been adhered to throughout the slump in the housing market.
Sally Keeble, a member of the Treasury Select Committee, said: “We will want to speak to constructive lenders, such as Nationwide, as well as those who perhaps are on the wrong track, to get to the heart of the problems in the market.”

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