asked the Secretary of State for the Environment when he next proposes to review the house price list of properties covered by the option mortgage guarantee scheme.

I have decided, following consultation with the British Insurance Association and the Building Societies Association, to raise the maximum house valuation for the option mortgage guarantee scheme from £12,000 to £14,000. Also, it has been agreed that the insurance premium rate for new participants in the scheme will be reduced by ¼ per cent.