Houses (Financial Statistics)

Mr. Austin Mitchell
asked the Chancellor of the Exchequer what are (a) the average values of a typical three-bedroom house purchased through a  building society in 1979 in the North-West and Greater London, respectively, (b) the average mortgage taken and the amount of interest payable, (c) the average, required or typical, income of the mortgagor, (d) the net annual value in terms of schedule A and (e) the estimated gain or loss to the mortgagor if schedule A tax were to be reintroduced----------------------------------------------------------------------------------
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|(i) Average dwelling price for new purchases                                    |
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|(ii) Average advance                                                            |
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|(iii) Annual interest payable on new mortgages                                  |
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|(iv) Average annual income (1)                                                  |
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|(v) Net annual value (NAV)                                                      |
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|(vi) Gross equivalent of NAV                                                    ||
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|(vii) Income tax payable after allowing mortgage interest relief                |
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|(viii) Income tax payable with no mortgage interest relief but 24.6p rate of tax|
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|(ix) Schedule A tax on 80% of GRV at 24.6p tax rate                             |
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|(x) Loss (vii-viii-ix)                                                          ||
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