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Small Dwellings Acquisition Acts (Loans)

Volume 498: debated on Tuesday 8 April 1952

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asked the Minister of Housing and Local Government what action he is taking to raise the money advanced to prospective house owners under the Small Dwellings Acquisition Acts from 90 per cent. to 95 per cent. of the capital sum involved.

The limitation of an advance under the Small Dwellings Acquisition Acts to 90 per cent. of the value of the property is statutory. Owing to the uncertainty of values at the moment, I am not persuaded that to remove the limit would be effective, since under this Act local authorities are empowered, not required, to make these advances.