§ Mr. Thurnham
To ask the Chancellor of the Exchequer if he will clarify which mortgages held by unmarried home sharers will be affected by the new tax rules which he proposed in his Budget.
§ Mr. Norman Lamont
The residence basis of mortgage interest relief announced in my right hon. Friend's Budget Statement will apply to all loans for house purchase made on or after 1 August. A loan will be treated as having been made before 1 August provided it was applied in pursuance of a binding contract to purchase the property made before that date and provided the offer of the loan was made by the lender before that date and was evidenced in writing by the lender before that date. Full details will be included in the Finance Bill.