HC Deb 04 February 1998 vol 305 c714W
Mr. Burstow

To ask the Chancellor of the Exchequer (1) what plans he has to require that the moneys payable to a lender, under a mortgage indemnity guarantee scheme, are set against any outstanding debt owed by the mortgagee; [27287]

(2) what evaluation his Department has made of the report and recommendations of the National Consumer Council on insurance law reforms, published in May 1997, in respect of mortgage indemnity policies. [27286]

(3) what evaluation his Department has made of the financial consequences to mortgagees where the mortgagor sells a property for under the market value. [27288]

Mrs. Liddell

The Government are considering these and other issues of consumer protection for mortgage borrowers. However, the Council of Mortgage Lenders has included in its codes of mortgage lending practice a provision that lenders should give borrowers a full written explanation of indemnity policies.