Miscellaneous Bank Charges

EDM number 829 in 2004-05, proposed by Mike Hancock on 03/03/2005.

That this House urges the Government to instigate an inquiry into the miscellaneous, but unavoidable charges made by banks, such as survey fees, booking fees, arrangement fees, higher lending charges fees and sealing of deeds fees, which are little more than a backdoor method of increasing their excessive profits, made at the expense of ordinary working people; notes that the NatWest Bank has increased its sealing of deeds fees by 350 per cent. in 18 months; and calls on the Chancellor of the Exchequer to institute a windfall tax on the profits of the banks in order that they are used for the common good rather than simply profiting shareholders.

This motion has been signed by a total of 18 MPs.