The Chancellor met the UK's principal mortgage lenders and the Financial Conduct Authority (FCA) to agree support for people struggling with mortgage repayments. The following quotes are a snapshot of their reaction.
Ian Stuart. Chief Executive Officer, HSBC UK said: “We're firmly focused on supporting our customers in this challenging economic environment, so we welcome the meeting with the Chancellor today, and with the support of the regulators, the concerted efforts across our industry to help customers through these measures.
It’s important that customers feel comfortable contacting us if they feel they are getting into financial difficulty because whilst every customer’s situation is different we have a range of options that we can use to help them find their way through. We stand ready and remain committed to our customers.”
Chief Executive Officer of Virgin Money, David Duffy, said: “Today’s commitments are an important next step in ensuring that customers feel supported as they navigate rising rates and high inflation. At Virgin Money, we are committed to supporting customers in the current economic environment and will continue to work with Government, regulators and industry to help those facing financial difficulty."
Dame Alison Rose, Group Chief Executive, NatWest said: “Our priority is to help the people, families and businesses we serve to navigate this ongoing economic uncertainty. Today’s announcements, following very productive discussions between mortgage lenders, government and regulators, will provide further flexibility and reassurance to customers who may be anxious about their household finances. We stand ready to support those worried about the future and encourage anyone experiencing financial difficulty to get in touch.”
