HC Deb 02 February 1965 vol 705 cc256-7W
60. Mr. Boyd-Carpenter

asked the Minister of Housing and Local Government what was the average rate of interest paid on advances from building societies on 15th October, 1964; what is now the average rate; whether he is satisfied with the position; and what action he proposes to take in the next six months.

Mr. Crossman

Samples for the nearest available dates 1st October, 1964, and 1st January, 1965, showed an average return on advances of about 6 per cent. and 6.1 per cent., respectively. I do not know what the present average figure is. As my right hon. Friends and I have made plain, the Government intend to reduce the burden falling on house purchasers, and we are considering the best way of doing this.