Mis-Selling Of Mortgages
EDM number 11 in 1999-00, proposed by Paul Flynn on 17/11/1999.
That this House is alarmed at the continuing high sales of endowment mortgages; agrees with the Consumers' Association that endowments are 'risky inflexible products which typically pay seven times the commission of repayment mortgages'; calls for legislation to end the hidden charges and high redemption charges in other mortgages; and urges speedy compensation for the victims of mis-selling and the establishment of a financial advice service that will be independent of the selling process.
This motion has been signed by a total of 56 MPs, 1 of these signatures have been withdrawn.
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