Home Loans (Local Authority Interest Rates)

HC Deb 22 June 1965 vol 714 cc175-6W

56. Mr. Mawby

asked the Minister of Housing and Local Government why, in Circular 3/65, he required local authorities to charge an interest rate of 7 per cent. to borrowers of home loans.

Mr. Crossman

Circular No. 3/65 sets out the rates of interest for loans advanced to local authorities by the Public Works Loans Board: it does not require local authorities to charge any particular interest rate on loans for house purchase.