§ Baroness FAITHFULL
asked Her Majesty's Government:
Whether they intend to extend the scope of the option mortgage scheme to 864WA elderly non-taxpayers who wish to take out an annuity with a loan secured on their house.
The PARLIAMENTARY UNDERSECRETARY of STATE, DEPARTMENT of the ENVIRONMENT (Lord Beliwin)
We have been giving careful consideration to the arguments put forward on this matter during the proceedings of the Social Security Bill and on the Housing Bill. The Government has agreed that the option mortgage scheme should be extended in this way to provide additional income to elderly low income owner-occupiers to help them remain longer in their own homes. The cost will be met within existing public expenditure allocations. A new clause to give effect on Report will be tabled when the Housing Bill returns to another place.
House adjourned at twenty-six minutes past ten o'clock.