HC Deb 18 June 1974 vol 875 cc103-4W
Mr. Tierney

asked the Secretary of State for the Environment if he will make it a condition of future loans to the building societies that no such loans are made unless all building societies refrain from putting up their mortgage rates.

Mr. Crosland

The agreed condition is that any building society participating in one of the monthly loan tranches shall not during the ensuing month increase or resolve to increase its ordinary investment rate or mortgage rate, these being the rates in force on 9th April 1974.

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