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Housing Corporation

Volume 978: debated on Thursday 14 February 1980

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asked the Secretary of State for the Environment what the policy is of the Housing Corporation towards the repayment of mortgages outstanding on co-ownership homes, where both the building society and the owner are in agreement.

Co-ownership societies cannot at present sell to their tenants and early repayment of a mortgage is therefore not normally an issue, but I refer my hon. Friend to my reply to my hon. Friend the Member for Ilford, South (Mr. Thorne) on 30 January—[Vol. 977, c. 1325]—in which I announced my intention to bring forward amendments to the Housing Bill to enable co-ownerships to sell to their members if they wish. In such cases arrangements would be made for the repayment of mortgages.