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Mortgage Rescue Proposals

Volume 201: debated on Tuesday 14 January 1992

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To ask the Chancellor of the Exchequer if he will specify the basis of his calculation that his mortgage rescue proposals will protect 40,000 households next year; and what information he has of the number of households facing repossession next year.

[holding answer 13 January 1992]: Lenders themselves have estimated that the measures announced by my right hon. Friend the Chancellor on 19 December will prevent about 40,000 repossessions this year. They were previously expecting about 80,000 repossessions in 1992.