The FCA and the government are being urged to enforce non-lenders who choose not to lend to offer fairer rates, UK Mortgage Prisoners lead campaigner Rachel Neale has said.

Mortgage prisoners could be facing rates of 9% and above in the current economic climate, according to Neale.

In a letter, Neale urged the FCA and the government to enforce non-lenders who choose not to lend to offer fairer rates.

With mortgage prisoners paying mortgage rates of between 4% and 9% for over a decade, Neale said the UK government has ‘done nothing to help us’.

Neale stated: "Now that the wider public is set to have interest rates raised to those kinds of percentage rates the media, along with economists are raising an outcry of unfairness, asking how people will pay their mortgages and be able to live and buy food and pay their other bills. Surely you can see the irony here."

However, she said the "biggest upset" is that the financial industry, FCA, UK Finance and Treasury "continue to allow the likes of Landmark and Heliodor to choose not to offer new rates when they can".

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