HC Deb 23 March 1965 vol 709 cc311-2
10. Mr. Ian Gilmour

asked the Minister of Housing and Local Government how many local authorities have ceased to give 100 percent. mortgages or have increased the rate of interest in respect of mortgages since Her Majesty"s Government took office.

57. Mr. Chataway

asked the Minister of Housing and Local Government how many local authorities have increased the rates of interest charged on mortgages since Her Majesty"s Government took office.

87. Mr. Bence

asked the Minister of Housing and Local Government how many local authorities are continuing to grant 100 percent. mortgages; and what is the current rate of interest being charged.

Mr. Crossman

The 1,200 local authorities which operate lending schemes send me quarterly returns of advances made, showing 100 percent. advances separately, but these returns do not show how many have suspended lending entirely or have given up making 100 percent. advances. Press reports and other sources indicate that 36 authorities have suspended lending schemes entirely, of which three are known to have resumed lending. No returns are made of the interest rates charged.

Mr. Gilmour

Does not the fact that all the Labour Party"s promises on this matter have been broken cause the right hon. Gentleman some embarrassment? Is it not rather a curious method of carrying out what he called his pledges in due priorities to act entirely contrary to those pledges?

Mr. Crossman

I cannot find anything contrary to their pledges in what the Government did during an acute economic crisis.

Sir C. Osborne

Will the right hon. Gentleman do his best to influence the Chancellor of the Exchequer to get Bank Rate down so that housing charges can be reduced and greater advantage taken by people who want houses to rent or buy?

Mr. Crossman

The hon. Gentleman is a profound reader of my mind. This is something I seek to do day by day.