Mortgage Interest Rates

HC Deb 07 July 1983 vol 45 c170W

25. Mr. Rooker

asked the Chancellor of the Exchequer if he has made any representations since 9 June to the Building Societies Association in respect of mortgage interest rates.

35. Mr. Jim Callaghan

asked the Chancellor of the Exchequer if he has made representations to the chairman of the Building Societies Association on the level of mortgage interest rates.

36. Mr. Ashton

asked the Chancellor of the Exchequer if he has made any representations to the chairman of the Building Societies Association regarding competition in mortgage rates between various building societies.

Mr. Moore

The level of mortgage interest rates is a matter for building societies' own commercial judgement. I had an initial meeting with representatives of the Building Societies Association soon after I became Economic Secretary. The question of interest rates naturally came up. But I made it clear that it is not the Government's policy to interfere in commercial decisions of this kind.