UK finance ministry to work closely with banks on mortgages - statement

Britain's finance ministry will work closely with the financial sector on mortgage lending, finance minister Kwasi Kwarteng told banks during a meeting on Thursday, a Treasury statement said.

"While it is the responsibility of the sector to provide the best value for mortgage rates, the Chancellor confirmed that the Treasury would continue to work closely with the sector in the weeks and months ahead," a readout of the meeting said.

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