Martin Lewis reacts to mortgage announcement saying 'it looks like chancellor has listened'
manchestereveningnews.co.ukMartin Lewis has given his reaction to chancellor Jeremy Hunt's mortgage announcement. Mr Hunt announced today that he has agreed to measures with lenders which aim to help mortgage holders struggling with high-interest rates.
In a meeting with banks and building societies at Downing Street, Mr Hunt said they agreed to implement a 12-month minimum before repossessing homes.
He added that lenders agreed to allow struggling borrowers to extend the term of their mortgages or move to an interest-only plan temporarily with ease. Join our WhatsApp Top Stories and Breaking News group by clicking this link Money-saving expert Mr Lewis said he was "pleased" by the chancellor's decision and remarked that he took on board points made during a previous meeting between them.
Writing on Twitter, Mr Lewis said: "The unprecedented steep rise in mortgage rates is causing a nightmare for many with variable mortgages and those coming off fixes.
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