HC Deb 14 July 1988 vol 137 c309W
52. Mr. Tim Smith

To ask the Chancellor of the Exchequer if he will make it his policy to encourage retired owner-occupiers on low incomes to unlock the capital tied up in their home by mortgaging the property and using the proceeds to purchase an annuity.

Mr. Norman Lamont

Tax relief is already available for interest paid by people aged 65 or more on loans, secured on their homes, which are used to buy a life annuity.

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