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Volume 169: debated on Tuesday 13 March 1990

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To ask the Chancellor of the Exchequer if he will list in tabular form, and at constant prices the amounts which would be payable each month (a) at 15 per cent. and (b) at 9·8 per cent., on a standard repayment mortgage repayable over 25 years, of each of the regional average mortgages listed in his answer of 19 February, Official Report, column 518, to the hon. Member for Nottingham, North (Mr. Allen).

[holding answer 8 March 1990]: The monthly interest payments, after deduction of basic rate tax relief, for part (a) are given in the table. For part (b), I refer the hon. Member to my answer to the hon. Member for Nottingham, North (Mr. Allen) on 26 February 1990, Official Report, column 12.

RegionAverage new mortgage1Monthly payment2 15 per cent, interest rate
Yorkshire and Humberside29,600277·50
East Midlands34,700340·00
East Anglia44,600463·75
Greater London60,900667·50
South East53,200571·25
South West43,700452·50
West Midlands33,800328·75
North West31,300297·50
Northern Ireland24,200226·88
United Kingdom38,300385·00
1 Third quarter 1989.
2 Assuming endowment mortgage.