HC Deb 28 March 1977 vol 929 c28W
Mr. Richard Wainwright

asked the Secretary of State for the Environment what steps he will take to make mortgages more readily available for first-time house buyers in areas of older or low-cost housing.

Mr. Armstrong

We expect that the building society replacement lending scheme will be of particular assistance to first-time purchasers buying older and cheaper houses, since local authorities' own lending has concentrated on such applicants. There has also been a welcome shift in societies' lending generally: 23 per cent. of all their loans in 1976 went on pre-1919 property compared with 19 per cent. the previous year. For the future, our overall Review of Housing Policy is looking, inter alia, at the needs of first time purchasers.

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