HC Deb 28 January 1969 vol 776 cc291-2W
Mr. J. H. Osborn

asked the Minister of Housing and Local Government what are the latest figures for the number of new borrowers who have taken advantage of the option mortgage scheme.

Mr. MacColl

According to the latest information available approximately 30,000 new borrowers have chosen option mortgages.

Mr. Peter Walker

asked the Minister of Housing and Local Government how many people are now included in the option mortgage scheme.

Mr. MacColl

Up to the end of November, 1968, about 190,000 people had option mortgages.

Mr. J. H. Osborn

asked the Minister of Housing and Local Government what are the latest figures for the number of new borrowers who have taken advantage of the 100 per cent. mortgage guarantee scheme.

Mr. MacColl

According to a sample survey of building society mortgages, over 10,000 borrowers had taken advantage of the mortgage guarantee scheme up to the end of November, 1968.

Mr. J. H. Osborn

asked the Minister of Housing and Local Government what are the latest figures for the number of people who have taken advantage of the 100 per cent. mortgage guarantee scheme, expressed as a percentage of existing and new borrowers.

Mr. MacColl

According to the latest information available approximately 4 per cent. of new borrowers have taken advantage of the Option Mortgage Guarantee Scheme. This facility was not available to existing borrowers.

Mr. J. H. Osborn

asked the Minister of Housing and Local Government what are the latest figures for the number of people who have taken advantage of the option mortgage scheme, expressed as a percentage of existing and new borrowers.

Mr. MacColl

According to the latest information available about 9 per cent. of new borrowers are choosing option mortgages and about 4 per cent. of the existing borrowers who had to make their decision by 31st December, 1967 changed to option mortgages.

Mr. J. H. Osborn

asked the Minister of Housing and Local Government what is his latest estimate of the cost of the option mortgage scheme during the current financial year.

Mr. MacColl

£7 million.