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Option Mortgage Scheme

Volume 888: debated on Thursday 13 March 1975

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asked the Secretary of State for the Environment what is the amount of option subsidies paid to building societies in respect of borrowers who have availed themselves of the option mortgage scheme in the last financial year.

£41·7 million was paid to building societies in England and Wales in respect of option mortgage subsidy in 1973–74. It is not possible to identify from the information supplied by societies how much of this was for option mortgages taken out in that year.