Led by Conservative MP David Morris MPs from Labour, the Liberal Democrats and the Democratic Unionist Party have backed the motion.
It said that lenders had been ‘deliberately targeting borrowers where consumer protection law is ambiguous’ and called for the government to investigate the conduct of the Bank of Ireland and West Bromwich Building Society.
“This house condemns mortgage lenders breaching tracker rate mortgage contracts by unilaterally increasing the margin they charge over the Bank of England base rate in order to increase their profit margins,” it added.
In addition to Morris the motion was also supported by fellow Conservative Bob Blackman, John McDonnell and Alan Meale of the Labour party, the Liberal Democrats’ Mike Hancock and Bob Russell plus Nigel Dodds of the Democratic Unionist Party.
