§ Mr. George Cunningham
asked the Secretary of State for the Environment on what dates and by what stages the upper limit for loans under the option mortgage guarantee scheme have been raised to take account of inflation; and if he proposes a further rise in the near future.
§ Mr. Freeson
The maximum house valuation for the option mortgage guarantee scheme has twice been raised since the scheme was introduced in 1968—from the initial £5,000 to £7,500 in 1971 and then to the present ceiling of £12,000 last year. I have no plans at present for increasing the limit further; but I will continue to keep the matter under review.