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Mortgage Rates

Volume 973: debated on Wednesday 14 November 1979

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41.

asked the Secretary of State for the Environment if he will take action to prevent further rises in the interest rate on building society mortgages.

It is for the building societies to balance an increase in mortgage costs against the need for an adequate flow of mortgage funds, but my right hon. Friend last week set up the House Purchase Finance Group to consider how the flow of funds can be improved.