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Building Societies (Advances)

Volume 237: debated on Tuesday 25 March 1930

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asked the Financial Secretary to the Treasury the amount that has been advanced on mortgage by building societies for the 12 months ended to the last convenient date; and are there any statistics which will show the average amount of interest charged on this money?

The Chief Registrar of Friendly Societies tells me that the latest information available relating to the total amount advanced on mortgage by building societies over a period of 12 months is contained in his Report for the year 1929, Part 5, Section II, pp. 76–77. The figure given is £58,664,684 and this relates approximately to the year 1928. No information is available as to the rate of interest charged on advances made.