asked the Secretary of State for the Environment what the mortgage repayments will be on the average council dwelling sold at a discount of 50 per cent., 30 per cent. and 20 per cent., respectively, assuming mortgage interest rates of 14 per cent. and 15 per cent.
The most recently published figures show the average sale price before discount of a council dwelling in England and Wales to be £11,550. The net annual repayments on a 25-year mortgage after tax relief at 30 per cent. would be:
|Mortage interest rate||20 per cent. discount||30 per cent. discount||50 per cent. discount|
|14 per cent.||£956||£837||£598|
|15 per cent.||£1,014||£887||£634|