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Local Authority Mortgages

Volume 931: debated on Wednesday 11 May 1977

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asked the Secretary of State for the Environment whether he will increase the amount of finance which local authorities can pro vide for mortgages.

Additional finance cannot be made available overall, but the arrangements announced by my right hon. Friend on 6th April will enable local authorities to adjust their capital expenditure programmes within generous limits to increase the amount available for mortgages.

asked the Secretary of State for the Environment if he is aware that, through no fault of their own, local authorities frequently have to charge higher mortgage rates than building societies; if he will bring forward proposals to allow local authorities to advance new mortgages and to protect existing mortgages in such a way that they do not pay excessive interest rates; and if he will make a statement.

This question is being considered as part of the general review of housing policy to be published shortly.