Housing Investment Programme

Mr. Hardy

asked the Secretary of State for the Environment what sums have been spent within the housing investment programme by each local authority in the Yorkshire and Humberside region in each of the years from and including 1979.

Housing investment programme expenditure by each local authority in the Yorkshire and Humberside region in each of the financial years between 1978–79 and 1984–85 is as follows:£45,000 and £50,000, for tenants of two, five, 10, 15, 20 and 30 years' standing

(a) by outright purchase and (b) by purchase of 25 per cent., 50 per cent., and 75 per cent. shared ownership.

Using a typical building society mortgage interest rate of 12·75 per cent. per year, and assuming a 100 per cent. mortgage for a term of 25 years, the weekly mortgage repayments, net of tax relief, would be as follows:

Net weekly mortgage repayments A. Outright purchase
	Value (£000's)
Discount percentage	20	25	30	35	40	45	50
32	26·40	33·00	39·60	46·20	52·80	^*56·80	^*64·55
35	25·24	31·54	37·85	44·16	50·47	56·78	^*61·70
40	23·29	29·12	34·94	40·77	46·59	52·41	58·24
45	21·35	26·69	32·03	37·37	42·71	48·04	53·38
50	19·41	24·27	29·11	33·97	38·82	43·68	48·53
60	15·53	19·41	23·29	27·18	31·06	34·94	38·82
^* These mortgage loans exceed the tax relief threshold of £30,000 and payments are therefore calculated in a slightly different way from the other figures. The payments shown here are for the first year of the loan and would rise slightly in each subsequent year.

B. Purchase of 25 per cent. share
	Value (£000's)
Discount percentage	20	25	30	35	40	45	50
32	6·60	8·25	9·90	11·55	13·20	14·85	16·50
35	6·31	7·89	9·46	11·04	12·62	14·20	15·77
40	5·82	7·28	8·74	10·19	11·65	13·10	14·56
45	5·34	6·67	8·01	9·34	10·68	12·01	13·35
50	4·85	6·07	7·28	8·49	9·71	10·92	12·13
60	3·88	4·85	5·82	6·79	7·76	8·74	9·71

C. Purchase of 50 per cent. share
	Value (£000's)
Discount percentage	20	25	30	35	40	45	50
32	13·20	16·50	19·80	23·10	26·40	29·70	33·00
35	12·62	15·77	18·93	22·08	25·24	28·39	31·54
40	11·65	14·56	17·47	20·38	23·29	26·21	29·12
45	10·68	13·35	16·01	18·68	21·35	24·02	26·69
50	9·71	12·13	14·56	16·99	19·41	21·84	24·27
60	7·76	9·71	11·65	13·59	15·53	17·47	19·41

D. Purchase of 75 per cent. share
	Value (£000's)
Discount percentage	20	25	30	35	40	45	50
32	19·80	24·75	29·70	34·65	39·60	44·55	49·50
35	18·93	23·66	28·39	33·12	37·85	42·59	47·32
40	17·47	21·84	26·21	30·57	34·94	39·31	43·68
45	16·01	20·02	24·02	28·03	32·03	36·03	40·04
50	14·56	18·20	21·84	25·48	29·12	32·76	36·40
60	11·65	14·56	17·47	20·38	23·29	26·21	29·12

Volume 87: debated on Tuesday 26 November 1985