§ 14. Mr. Coldrickasked the Minister of Health whether, in view of the fact that housing associations intend to provide a good type of house at the lowest possible rent, he will make an early announcement regarding a lower rate of interest on loans for housing purposes; and whether such loans can be made on a basis of 100 per cent, of the total valuation.
§ Mr. BevanThe rate of interest on loans by local authorities to housing associations depends on the rate of interest at which the local authorities themselves are able to borrow. The rates of interest charged by the Public Works Loan Board for loans to local authorities for this and other housing purposes, and for loans made by the Board direct to housing associations are for the Treasury to determine. Loans by local authorities or by the Public Works Loan Board to housing associations are limited to 90 per cent. of the value of the property.
§ Mr. LipsonCan the Minister say when local authorities are to be told what rate of interest they will be charged?
§ Mr. LipsonThey want to know both.