HC Deb 13 November 1974 vol 881 cc124-5W
36. Mr. Beith

asked the Secretary of State for the Environment what is the current average rate of interest for local authority mortgages; and if he will take steps to enable the rate to be reduced to a level comparable to that offered by building societies.

53. Mr. Tinn

asked the Secretary of State for the Environment if he will seek powers to enable him to reduce the high interest rates charged for housing loans by some local authorities.

Mr. Freeson

Local authorities are not required to notify their current mortgage rates to the Department, but on available information most of they appear to be charging rates of 11 per cent. or less. As to the second part of the Question, I would refer the hon. Member to the answer given to the hon. Member for Norfolk, South (Mr. MacGregor) on 5th November.—[Vol. 880, c.130–1.]