§ Mr. Frank Allaunasked the Secretary of State for the Environment what was the total promised by the building societies to local authority nominees for mortgages in the second scheme; and how much has actually been provided on mortgages since this second scheme began.
§ Mr. Shore£157 million has been made available by the building societies for lending to local authority nominees in England in 1977–78. In the first half year advances amounting to £51.25
136WComparing 1972–73 with 1975–76, the study of newspaper advertisements found that the number of furnished lettings advertised after the Act was about 80 per cent. of the number before. The number rose slightly between 1972–73 and 1973–74, fell by about 25 per cent. in the year immediately following the Act and rose again by 4 per cent. in 1975–76. Lettings which appeared from the advertisements to be outside all Rent Act protection—a minority throughout the study period—showed a slight proportional increase between 1972–73 and 1975–76.
The findings are summarised in the following tables:
million had been approved. Following discussions with the Building Societies Association and the local authorities it has been agreed that some quotas should be reallocated to give more to those authorities which can use more in the current year. We are also discussing improvements in the operation of the scheme.