HC Deb 28 November 2002 vol 395 c463W
Mr. Gordon Prentice

To ask the Chancellor of the Exchequer how many(a) building societies, (b) banks and (c) other banking institutions offer mortgages without checking independently the salary of applicants for mortgages; and if he will make a statement. [83906]

Ruth Kelly

Information concerning lending decisions by mortgage lenders is not available to the Government, as these are purely commercial decisions. However, the Financial Services Authority (FSA) will be regulating mortgage business with effect from October 2004. As part of this process, the FSA has been consulting on rules in respect of responsible lending. In future, lenders will need to be able to show that account is taken of the consumer's ability to pay before entering into a mortgage contract.