§ Mr. Maxton
asked the Chancellor of the Exchequer if he will provide a table on movements in the average building society mortgage interest rate to home buyers from January 1970 to the present time.
§ Mr. Ian Stewart
There is no information available on the average building society mortgage interest rate to home buyers prior to 1984. Such information for 1984 and 1985 is shown in "Financial Statistics" table 13.12. However, data on the Building Societies Association's recommended and advised level of mortgage rates on new mortgages back to 1970 is available in "A Compendium of Building Society Statistics", published by the Building Societies Association.