§ Mr. Steenasked the Secretary of State for the Environment if he will increase the house price limits for the home loan scheme.
§ Mr. GowI have reviewed the limits in order to ensure that at least two thirds of first-time buyers in each region will continue to qualify for the benefits of the scheme, provided they fulfil the savings conditions. The new limits reflect recent movements in house prices in each region. An order is being laid to bring these new limits into effect on 7 December 1983.
The new limits, compared with the present limits, are as follows:
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Home loan benefits available for homes costing up to Area in which the property is situated Present limit New limit £ £ ENGLAND Northern region: counties of Cleveland, Cumbria, Durham, Northumberland, and Tyne and Wear 18,400 19,100 Yorkshire and Humberside region: counties of Humberside, North Yorkshire, South Yorkshire, and West Yorkshire 18,000 18,200 East Midlands region: countries of Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, and Nottinghamshire 20,100 20,100 East Anglia region: counties of Cambridgeshire, Norfolk, and Suffolk 22,800 22,900 South East region: London: county of Greater London 30,000 30,700 Rest of South East: counties of Bedfordshire, Berkshire, Buckinghamshire, East Sussex, Essex, Hampshire, Hertfordshire, Isle of Wight, Kent, Oxfordshire, Surrey, and West Sussex 26,800 27,100 South West region: counties of Avon, Cornwall, Devon, Dorset, Gloucestershire, Somerset, and Wiltshire; and the Isles of Scilly 23,900 24,000 West Midlands region: counties of Hereford and Worcester, Shropshire, Staffordshire, Warwickshire, and West Midlands 20,000 20,000 North West region: counties of Cheshire, Greater Manchester, Lancashire, and Mersey side 19,800 20,200 WALES 20,700 20,700 SCOTLAND 23,400 23,400