A Bill to require that mortgage interest rates paid by homeowners change by at least the same percentage as mortgage interest base rates; and for connected purposes
House of Commons
18 April 2013
May contain errors — check source documents for definitive information.
This bill would require the mortgage interest rates paid by homeowners to move by at least the same percentage as changes in base rates. In practice, when the Bank of England base rate goes up or down, lenders would have to adjust homeowners’ mortgage rates by at least an equivalent amount. The aim is to reduce volatility in mortgage payments by aligning rate changes with base rate movements.
The bill is at the Second Reading in the House of Commons; the First Reading took place on 25 June 2012, with consideration in the Commons ongoing.
Generated 21 February 2026
25 Jun 2012
The Bill had its first reading on 25 June 2012. The second reading was expected on 1 February 2013 but was withdrawn.
If you require any further information about the Bill then please contact the sponsor Thomas Docherty.
No recorded votes for this bill yet.
