Rooker speaks out in favour of flexibility

Housing minister Lord Rooker has declared that the government will do what it can “to push the idea of flexible mortgages”.

Speaking last month at Prime Minister&#39s Questions, Lord Rooker pointed out that flexible mortgages represent a rapidly growing share of mortgages in certain sectors of the market, particularly among those in the A-B economic class and those who have owned more than one property in the past.

He told the House: “People now know that mortgage flexibility can be used to avoid possible repossession. Interest rates are a lot lower and there is a great deal more flexibility to pay more in good times and less in bad times. That evens out the situation, making it less likely that the threat of repossession will return to this country.”