§ Mr. FlynnTo ask the Chancellor of the Exchequer what plans the Government have to extend the protection afforded under the Financial Services Act 1986 to homebuyers. [83554]
§ Ms HewittThere are no plans to extend the present Financial Services Act to cover mortgages. The Financial Services and Markets Bill provides for mortgages to be brought within its scope and the scope of the powers of the Financial Services Authority. A decision will be made later this year on whether the scope of the Bill should include all mortgage selling.