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Julian Sturdy - Strong Voice for York Outer

Julian Sturdy

Member of Parliament for York Outer

Latest News & Campaigns

Julian joins Lobular Moon Shot Project

Julian joins Lobular Moon Shot Project

Julian has joined over one-hundred Members of Parliament backing the Lobular Moon Shot Project to improve research funding into lobular breast cancer. Invasive Lobular Breast Cancer (ILC) is the 2nd most common type of breast cancer. 3.75 million people will be diagnosed with this cancer in the next 10 years, yet ILC currently has no specific treatment and behaves

Julian unites with Cancer Research UK

Julian marked World Cancer Day at a special Cancer Research UK event at Westminster...

Julian supports deposit return scheme to keep York tidy

Julian attended a parliamentary drop-in session to discuss hosted by “Reloop” and “Keep Britain...

Julian writes to FCA urging better protection for village banking services

Julian joined 56 other Members of Parliament in penning a letter to the Chief...

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.”