HC Deb 14 June 1934 vol 290 c1882
37. Captain BARTON

asked the Minister of Health whether his attention has been called to the injustice suffered by trustee mortgagees and private mortgagees whose investments have been covered by the Rent and Mortgage Interest Restriction Acts occasioned by the demolition of properties scheduled under the Housing Act, 1930; and whether he proposes to take steps to ensure adequate compensation being paid in such cases?

Sir H. YOUNG

I fully appreciate the position of a mortgagee when the property on the security of which he has lent money is found to have no value beyond its site value, the houses being unfit for human habitation, but compensation does not appear to be more justified in these cases than in other cases in which money has been advanced on a security which subsequently proves inadequate. My hon. Friend is no doubt aware that Section 7 of the Increase of Rent and Mortgage Interest (Restrictions) Act, 1920, gives some protection to the mortgagee whose mortgagor does not keep the property in a proper state of repair.