§ 20. Dr. CableTo ask the Chancellor of the Exchequer what assessment he has made of the impact of an increase in the number of fixed rate mortgages on economic management. [124663]
§ Mr. BoatengThe Chancellor has asked David Miles, Professor of Finance at Imperial College, to undertake a review of the UK's fixed rate mortgage market.
This will involve an examination of whether there has been any market failure that has held back the market for fixed and long-term fixed rate mortgages and a consideration of associated opportunities, risks and potential costs.
Professor Miles will deliver an interim report by autumn and a comprehensive report and recommendations to the Chancellor by Budget 2004.