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Mortgage Foreclosure Sales

Volume 955: debated on Thursday 3 August 1978

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asked the Secretary of State for the Environment how many instances of orders for sale of domestic properties resulting from mortgage foreclosure proceedings became known to his Department during the last 12 months; in how many cases such proceedings were in respect of secondary or subsequent mortgages; in how many cases such sales realised an equity more than twice the value of the unsatisfied mortgage debt; and if he will make a statement upon the problem occasioned by the need to tackle debt recovery of comparatively trivial amounts to proceed without the necessity for sale of entire properties.

Figures are not available in this form. In 1977, 21,470 court orders for the possession of residential premises were granted against defaulting mortgagors, service licensees and persons forfeiting their leases. As I said on

Total rate fund revenue expenditure (1)(£ million)131–9172–61991
Approximate distribution of sources of finance of expendi ture (figures for all non-metropolitan counties in England and Wales in brackets)
Grants39½(44½)41½(43)38½ (41)
Precept47(45½)51½(47½)50½ (47½)
Sales, fees and charges (2)5(12)5½ (12½)7(13)
Other Income(3)7
Changes in balances1(-2)-7(-3)-3(-1½)
(1)The sum of gross expenditure in all rate fund services accounts and transfers from the rate fund to other accounts. Recharges (e.g. on general administration) and other transfers between rate fund service accounts are included.
(2)This will include a substantial amount of income from recharges to other rate fund accounts.
(3)An increase in balances is shown as a negative figure (i.e. total income exceeded total expenditure) and vice versa.
For 1977–78 and 1978–79 only estimates of net revenue expenditure (i.e. total expenditure less income from sales fees and charges and other non-grant income) are currently available.