Why Government must free mortgage prisoners who are trapped into paying 'obscene' interest rates -Greg Wright

Name: Mortgage prisoners
Uploaded: 2020-03-11T11:49:40.000Z
Duration: 57 s
Description: Mortgage prisoners

Victim-blaming is a despicable tactic used by bullies throughout history.

By Greg Wright

Published 11th Mar 2021, 08:21 BST

Updated 11th Mar 2021, 14:44 BST

We need to challenge the false narrative that shifts the blame for the appalling decisions of banking executives on to the shoulders of the mortgage prisoners; law-abiding, hard-working people who were only guilty of pursuing the dream of home ownership.

According to the Mortgage Prisoners’ campaigning group, 250,000 borrowers have faced interest rates at least 1.33 per cent higher than the average market SVR (standard variable rate) reported by the Bank of England for at least a decade.