HC Deb 16 April 1981 vol 3 c283W
Mr. McCrindle

asked the Secretary of State for Trade if he is satisfied with the operation of the agreement between the Building Societies Association and the Office of Fair Trading granting borrowers greater freedom to choose the insurance company to cover the building mortgage.

Mr. Eyre

This is a matter for the Director General of Fair Trading, who keeps it under constant review.

Mr. McCrindle

asked the Secretary of State for Trade if he will legislate to allow a borrower from a building society to arrange insurance cover on the building mortgaged to be placed through the agency of any insurance intermediary of the borrower's choice.

Mr. Eyre

Recommendations by the Building Societies Association on the rules to be adopted by member societies on the acceptance of property insurance otherwise than through the agency of the society are under discussion by the association and the Director General of Fair Trading under the restrictive trade practices legislation. Legislation meanwhile would be premature.