HC Deb 26 July 1962 vol 663 cc1706-7
10. Mr. Cleaver

asked the President of the Board of Trade whether he will introduce legislation to prevent misleading advertising indicating that 100 per cent. mortgages can be obtained by insurers who have held policies for three years.

Mr. Erroll

I am making inquiries about the particular case of which my hon. Friend has sent me details, and I would prefer not to comment at this stage. I have received no other complaints of this kind.

Mr. Cleaver

Would not my right hon. Friend agree that it is quite scandalous that young married people should be induced to take out insurance as a result of misleading advertisements in the Birmingham Press, which give the impression that they will be entitled to 100 per cent. mortgages on the value of the house which they purchase or up to 100 per cent. of the insurance which they have taken out, whereas they are entitled to an advance only up to the insurance company's valuation of the property? In view of the unhappiness which is caused when the truth comes out, will] my right hon. Friend do something serious about this?

Mr. Erroll

I am sure that my hon. Friend would not wish me to comment on his supplementary question while I am investigating the whole matter.