§ 16. Mr. Fordasked the Minister of Housing and Local Government what was the source from which the recent additional quotas for home loans by local authorities became available; how much became available from this source; and what steps have been taken to make it available to home buyers.
§ Mr. MacColl£11 million became available from under-lending by the Greater London Council; additional quotas were offered from this amount to 1256 some lending authorities, and many others received additions after making application on seeing the Press reports of the surplus.
§ Mr. FordWhen did this amount become available? Was the whole of the quota taken up? Were local authorities given all they asked for in the allocation?
§ Mr. MacCollWe first knew about this on 8th January. The whole of it was offered, and nearly £9 million was firmly taken up. No local authority which asked for a quota was refused it.
§ Mr. John FraserIs my hon. Friend aware that £90 million a year is repaid on council mortgages and loans? Why not make that sum available for more loans and thus treble the present quota?
§ Mr. MacCollThat is another question.