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Mortgage Interest Rates

Volume 886: debated on Monday 17 February 1975

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asked the Secretary of State for Scotland if he will publish in the Official Report a list of Scottish local authorities which already charge or which have announced their intention of charging mortgage lending rates above 11 per cent. on the same basis as the list of English authorities published by the Secretary of State for the Environment on 23rd January.

Local authorities are not required to inform me of their mortgage rates. However, I understand that, among the authorities which are substantial lenders, the following currently charge more than 11 per cent. on loans for house purchase: Edinburgh Corporation, Angus County Council, Fife County Council, Renfrew County Council, Dumbarton Town Council, Kirkcaldy Town Council, Paisley Corporation.