HC Deb 09 December 1974 vol 883 c17W
Mr. Neubert

asked the Secretary of State for the Environment what relationship the ceiling of £13,000 on mortgage advances imposed by the Building Societies (Special Advances) Order 1971 bore to average house prices at that time; and what would be the equivalent ceiling now.

Mr. Dell

I have been asked to reply.

In the third quarter of 1971 the average price of all dwellings mortgaged with building societies in the United Kingdom was £5,772. To restore the limit to its 1971 level in relation to house prices would mean raising the ceiling to £26,000.

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