Calls for protection for trapped home owners

Vulnerable home owners who find themselves "trapped" in their existing mortgage when stricter lending rules come into place must be given more protection so they do not suffer unfair treatment, a consumer body has said.

The Financial Services Consumer Panel warned mortgage customers could be charged a higher interest rate because they are unable to move their deal elsewhere, with more borrowers facing this "acute" risk when new rules tightening up on mortgage lending come into place.