The Bishop of Chelmsford spoke at the second reading of the Mortgage Prisoners Bill on 7th February 2025, supporting the bill and the introduction of a public inquiry into the circumstances of mortgage prisoners:
The Lord Bishop of Chelmsford: My Lords, I want to begin with a confession: I did not know much about the scandal of mortgage prisoners until just a few weeks ago. It surprised me how long this has been left unresolved. I felt compelled to speak to the plight of mortgage prisoners because, when a group of people are marginalised and suffer due to institutional failures, it is important that they are not forgotten and that the injustice is put right. So I thank the noble Lord, Lord Sharkey, for bringing this legislation forward, and I am grateful to everyone who is contributing today. We may well be a small group in this debate but it is no less significant because of that.
Mortgage prisoners are trapped in a set of circumstances that afflicts their lives. Excessive interest payments on their mortgage, financial stress for their families, powerlessness to change their circumstances and their lack of choice compared to most borrowers—all in the context of the cost of living crisis—leave many struggling to afford their homes. This is also a crisis not of their own making. It is reasonable to believe that home ownership would lead to further stability, yet many mortgage prisoners face a perilous fate, with their hopes shattered and lives turned upside down.
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