UK’s Hunt says banks must honour commitments on mortgage help

LONDON (Reuters) – British finance minister Jeremy Hunt said on Wednesday that mortgage lenders had to live up to their commitments to help borrowers struggling with higher interest rates.

“I know that many are worried about their mortgage repayments,” Hunt said on Twitter a few hours after data showed Britain’s inflation rate failed to fall in May, raising the prospect of more interest rate increases ahead.

Hunt, who is due to meet representatives of banks on Friday, said: “I want to ensure banks are living up to the commitments we agreed in December, and what more they can do to help.”

(Reporting by Muvija M; Writing by William Schomberg, editing by William James)