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House Purchase (Loans)

Volume 531: debated on Monday 26 July 1954

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asked the Minister of Housing and Local Government how many local authorities have agreed to exercise the powers contained in the appendices to Circular No. 42/54 and to guarantee loans for the acquisition of houses and flats; and how many have refused.

Three hundred and thirty-two local authorities in England and Wales have agreed to help would-be house purchasers who cannot find the deposit ordinarily required by a building society by adopting the two guarantee schemes explained in the appendices to Circular 42/54. Thirty-seven authorities have said that they do not propose to operate the schemes, but I have asked them to reconsider the matter and hope that they will change their minds. As the circular was sent to local authorities only just over two months ago, I think the figures I have given are satisfactory. In the autumn I hope to hear from more authorities that they have decided to use the two guarantee schemes to help men in the£11 to£14 a week group who want to own their own houses.