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Home Loan Scheme

Volume 81: debated on Friday 28 June 1985

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asked the Secretary of State for the Environment if he will increase the house price limits for the home loan scheme.

My right hon. Friends the Secretaries of State for Scotland, for Wales and for the Environment have reviewed the limits in order to ensure that at least two-thirds of first-time buyers in Scotland, Wales and the English regions will continue to qualify for the benefits of the scheme, provided they fulfil the savings conditions. The new limits reflect recent movements in house prices in each region. An order is being laid today to bring these new limits into effect from 20 July 1985.*The new limits, compared with the present limits are as follows:

Area in which the property is situatedHomeloan benefits available for homes costing up to
New Limits £Present Limits £
Northern region: counties of Cleveland, Cumbria, Durham, Northumberland and Tyne and Wear21,50020,100
Yorkshire and Humberside region: counties of Humberside, North Yorkshire, South Yorkshire and West Yorkshire20,40019,200
East Midlands region: counties of Derbyshire, Leicestershire, Lincolnshire, Northamptonshire and Nottinghamshire22,10020,400
East Anglia region: counties of Cambridgeshire, Norfolk and Suffolk26,00023,700
South East region: London: County of Greater London38,00033,100
Rest of South East: counties of Bedfordshire, Berkshire, Buckinghamshire, East Sussex, Essex, Hampshire, Hertfordshire, Isle of Wight, Kent, Oxfordshie, Surrey and West Sussex33,50029,400
South West region: counties of Avon, Cornwall, Devon, Dorset, Gloucestershire, Somerset and Wiltshire; and the Isles of Scilly28,20025,700
West Midlands region: counties of Hereford and Worcester, Shropshire, Staffordshire, Warwickshire and West Midlands21,90020,700
North West region: counties of Cheshire, Greater Manchester, Lancashire and Merseyside21,70020,200
* Statutory Instrument 1985 No. 937: The Home Purchase Assistance (Price Limits) Order 1985.