Chancellor agrees ‘mortgage charter’ to help borrowers but Labour says intervention is ‘weak’
If the bosses of some of Britain’s biggest banks were nervous as they entered Downing Street for a crunch meeting on the mortgage crisis on Friday morning, they were quickly reassured.
Jeremy Hunt hosted six executives and one senior regulator after a week of economic bad news, which saw inflation remain steady at 8.7%, the Bank of England raise the base rate to 5% and lenders continue to increase the costs of mortgage deals.
