Skip to main content

Mortgages

Volume 927: debated on Tuesday 1 March 1977

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Secretary of State for Scotland (1) if he has any plans to review Government policy in regard to house purchase advances, with particular reference to allowing local authorities to recycle moneys accruing through premature repayment of a mortgage or normal monthly repayments;(2) on what basis he does not allow local authorities to recycle moneys accruing to them through mortgage repayments.

Allocations of investment for mortgage lending are made to local authorities each year in gross terms, but they are within the total public expenditure available for housing in Scotland which takes account of mortgage repayments and redemptions to housing authorities. In effect, therefore, receipts are recycled within the housing programme over Scottish authorities as a whole.