HC Deb 30 March 1982 vol 21 c103W
Mr. Ancram

asked the Chancellor of the Exchequer wheher borrowers who are living in job-related accommodation and purchasing a property for their future use will be able to obtain mortgage interest relief under the new arrangements which are due to come into operation in April 1983.

Mr. Ridley

An employee who lives in this type of accommodation and who is buying another residence for his own present or future use does not at present come within the option mortgage scheme. Since 1977, tax relief has been available and my right hon. and learned Friend the Chancellor of the Exchequer and my right hon. Friend the Secretary of State for the Environment are proposing to include within the new tax relief arrangements interest payable by borrowers living in job-related accommodation provided the interest is eligible for relief under the ordinary tax rules. The effect will be to extend relief to borrowers whose incomes are below the tax threshold.

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