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Julian Sturdy - Strong Voice for York Outer

Julian Sturdy

Member of Parliament for York Outer

Latest News & Campaigns

Hosepipe Ban for Yorkshire

Hosepipe Ban for Yorkshire

Yorkshire Water has announced that it will introduce a hosepipe ban from 26th August. Yorkshire Water’s director of water, Neil Dewis, said: “Parts of Yorkshire have seen the lowest rainfall since our records began more than 130 years ago. The hot, dry, weather means that Yorkshire’s rivers are running low and our reservoirs are around

York Press column – New North Yorkshire Mayor and new Yorkshire Prime Minister?

This is a historic month for our great county, as Yorkshire Day on 1st...

Julian welcomes 190 additional police officers for North Yorkshire Police

Julian has welcomed new figures that show 190 police officers have been recruited in...

York and North Yorkshire devolution deal signed

On Yorkshire Day, a new historic devolution deal for York and North Yorkshire was...

Julian campaigns to raise awareness of Shared Appreciation Mortgage scandal

July 5, 2019

This week Julian has questioned Treasury Ministers in the House of Commons in a bid to raise awareness of an unjust equity release scheme that has impacted on thousands of families across the country, including a constituent in York.

Shared Appreciation Mortgages (SAMs) were marketed primarily to pensioners in the 1980s and 90s, with the banks offering an equity release loan in return for as much as 75% of the future increase in value of the borrower’s home. With house prices rocketing across the country since these deals were signed, families have been left facing debts that are completely out of proportion to the original loan (in some cases nine times as much).

Customers are seeking to challenge the banks on the basis that the implications were not adequately explained when the loans were taken out, yet the progress of these cases through the Financial Ombudsman Service remains frustratingly slow.

After speaking in the House of Commons, Julian said:

“I was keen to raise the case of my constituents in York who have been left unable to sell their home due to the liabilities against it from their Shared Appreciation Mortgage. This is an under publicised issue on which those involved have seen little or no progress over many years.

Whilst I thank the Minister for engaging with me on this issue, it is clear from his response that the Government believes this is a matter to be resolved on a case by case basis through the FOS and the courts. I will continue to apply political pressure on the banks to cooperate with consumers and allow their claims to be investigated in a timely manner.”