UK Money News
22nd April 2008
Darling in crisis talks with mortgage lenders
Alistair Darling will today meet with leading figures from the mortgage industry for crisis talks.
The summit will be attended by the Council of Mortgage Lenders and some of the UK's largest mortgage lenders.
It is expected to focus on what measures can be taken to ease the burden for borrowers struggling to meet higher repayments.
Among the ideas to be mooted is the introduction of 'mortgage holidays', through which borrowers can take a temporary break from their repayments - along with proposals for new, more flexible, monthly payments.
Mr Darling is also expected to press lenders to pass on the benefit of recent cuts to the key base rate of interest to borrowers.
He told MPs: "In the light of everything we are doing with [mortgage lenders], I want to discuss with them how they can pass on the benefits of falling interest rates as well as wider government support to mortgage holders."
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