HC Deb 12 February 1976 vol 905 cc382-3W
Mr. Kinnock

asked the Secretary of State for Wales if he will publish in the Official Report any agreement which he has been able to make with the Building Societies Association or individual building societies concerning mortgage lending to purchasers of older properties in need of improvement in Wales.

Mr. Alec Jones

While no specific agreements have been concluded we have been assured that building societies will be as flexible as possible in allocating the additional £5 million to this sector of the housing market.

Mr. Kinnock

asked the Secretary of State for Wales what financial facilities have been provided to Welsh local auhorities in each year since 1968 for purposes of mortgage lending; and in each year what proportion was allocated for house purchase and what proportion for the purpose of balancing improvement grants.

Mr. Alec Jones

In the years 1970 to 1975 the amount of advances made by local authorities for house purchase and improvement were as follows:

Amount advanced for house purchase* £m. Amount advanced for improvement conversion etc.† £m. Total £m.
1970 6.2(93%) 0.5(7%) 6.7
1971 8.9(91%) 0.9 (9%) 9.8
1972 9.1(88%) 1.3(12%) 10.4
1973 12.7(86%) 2.1(14%) 14.8
1974 22.0(86%) 3.6(14%) 25.6
1975 24.0(91%) 2.4(9%) 26.4
* Under section 43 of the Housing (Financial Provisions) Act 1958 or the Small Dwellings Acquisition Acts.
† Under the Housing (Financial Provision) Act 1958 or section 74 of the Housing Act 1969.

Corresponding data for 1968 and 1969 are not readily available.