asked the Minister for Industry and Commerce if he will introduce legislation as a matter of urgency (a) to control effectively the activities of mortgage broking firms with particular reference to commissions and other charges made by these firms in respect of house mortgages and (b) to provide for full disclosure of all interest and other charges made by second mortgage companies.
Written Answers. - Mortgage Broking Firm Charges.
122.
Charges made by mortgage broking firms come within the scope of the Prices Acts and accordingly such firms are required under the Prices and Charges (Notification of Increases) Orders, 1973 to give me two months' notice of any proposed increase in their charges. I have also power to fix maximum charges in respect of such firms. I have no evidence to indicate that it is necessary to introduce legislation to control the activities of these firms or to provide for the disclosure of the information mentioned by the Deputy.