HC Deb 31 May 1968 vol 765 c304W
Mr. Geoffrey Lloyd

asked the Minister of Housing and Local Government, whether he is aware that a number of taxpayers with several children originally accepted the option mortgage scheme which was to their benefit, but now find that the increased family allowances, and consequent increased liability to tax make the scheme work to their disadvantage; and whether in such cases he will seek to waive the rule that mortagage options are irrevocable.

Mr. Greenwood

There is no provision in the Housing Subsidies Act, 1967 for a properly given option notice to be revoked, and I have no power to vary the provisions of the Act. I am aware that some marginal cases may be affected in the way suggested, but changes in taxable income may render an option mortgage less favourable or more so.

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