Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Guardian - UK
The Guardian - UK
Business
Rupert Jones

UK government made £2.4bn from ‘mortgage prisoner’ loan sales, says Martin Lewis

Martin Lewis United Kingdom FCA MoneySavingExpert
A sign for a Northern Rock bank on the wall of a branch in the City of London
Many of the so-called ‘mortgage prisoners’ are former customers of Northern Rock bank. Photograph: Toby Melville/REUTERS

The UK government made a £2.4bn “profit” when it pushed tens of thousands of mortgage borrowers “into poverty” after selling their loans on to new lenders, the campaigner Martin Lewis has claimed.

The MoneySavingExpert founder was speaking at the launch of a report, which he funded, into the plight of “mortgage prisoners”: a group of borrowers caught up in the fallout from the 2007-08 financial crisis.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
63 Hilarious And Concerning Times People Misused Quotation Marks And Made It Weird
We’ve probably all witnessed the havoc a misplaced comma can wreak on an innocent sentence. “Let’s eat, Grandma” and “Let’s eat Grandma” are one small mark apart, but only one of them sounds like a line from Hannibal Lecter. But there’s another punctuation mishap we see all the time, on…
Bored Panda
Bored Panda
73 Marriage Tweets That Prove Living With Someone Is A Daily Exercise In Accepting Weirdness
The science behind finding a partner's quirks endearing, the psychology of oversharing with strangers, and the research on couples who laugh together all point to the same conclusion: the public is not just content. It is proof of something lasting. Check out the full list of tweets to realise that…
Bored Panda
Bored Panda
The Beach Boys’ Mike Love returns to the stage despite ‘facing serious health challenges’
The 85-year-old was helped on stage by actor John Stamos, who shared an emotional message about his ‘musical hero and mentor’
The Guardian - AU
The Guardian - AU
Columbia woman spends $10 on a tiny Chipotle burrito and complains online. Then she finds out she allegedly offended the entire ‘burrito community’
That's a character-building experience.
We Got This Covered
We Got This Covered
Kelly Clarkson Slams Brooklyn Store After Being Treated Like She Couldn't Afford Its Products in 'Pretty Woman' Moment
Kelly Clarkson says an Art of Play employee treated her as though she could not afford its products. The Brooklyn shop has shared positive reviews but has not publicly explained the encounter.
International Business Times UK
International Business Times UK
Kelly Clarkson Blasts Brooklyn Store After Employee Allegedly Assumes She Can’t Afford Their Products: ‘You’re An Idiot’
Kelly Clarkson shared an alleged unpleasant shopping experience at a Brooklyn store, prompting fans to react and sparking backlash against the business.
Bored Panda
Bored Panda
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play