HC Deb 06 November 1975 vol 899 cc283-4W
Mr. Spearing

asked the Secretary of State for the Environment what discussions he has had with local authority and building society representatives concerning a scheme for local authorities' guarantees for mortgages taken on older property by persons of all ages or of any property by older persons.

Mr. Freeson

Powers exist under Section 45 of the Housing (Financial Provisions) Act 1958 to enable local authorities to guarantee the repayment of mortgage advances made by building societies. The question of guarantees was raised in general terms at a recent discussion between local authority associations and the Building Societies Association, at which my Department was represented.

Mr. Cartwright

asked the Secretary of State for the Environment if he will make a statement on the progress of co-operation between local authorities and building societies in the provision of home loans for first time buyers.

Mr. Freeson

The scheme under which the building societies have agreed to provide £100 million to augment local authority home loans this year is not confined to first-time buyers. I cannot add to the information on the progress of the scheme given in reply to a question by the hon. Member for Melton (Mr. Latham) on 21st October.—[Vol. 898, c. 125.]