§ Mr. Geoffrey Finsbergasked the Secretary of State for Trade and Industry if he is now in a position to state the result of his discussions with second mortgage companies; and if he will make a statement.
§ Mr. EmeryA number of the principal companies seeking second mortgage business sought guidance on interpretation of the voluntary code recommended by the Government. After discussions with the trade, notes of interpretation were recently despatched to all companies holding certificates under Section 123 of 375W the Companies Act 1967 and those companies which had not already given a full reply to the Government's request were asked to do so. I am glad to say that nearly all of the principal lenders have now accepted the code.