§ 31. Mr. Oram
asked the Chancellor of the Exchequer if he is aware that some building societies are charging their borrowers rates of interest higher than the 11 per cent. recommended to its member societies by the Building Societies Association; and what proposals he has to ensure that such excessive rates are not charged.
§ Mr. Nott
Although members of the Building Societies Assocation normally charge the recommended rate, they may charge a different rate for particular purposes, and some smaller societies may charge a slightly higher rate generally. Decisions on their rates are, of course, a matter for the building societies themselves.