HC Deb 19 February 1990 vol 167 cc524-5W

To ask the Chancellor of the Exchequer what is the average level of mortgage entered into in each region of the United Kingdom.

Estimates of the average new building society mortgage for each region on all dwellings for the third quarter of 1989 are given in the table:

 Region Average New Mortgage £ Northern 28,400 Yorkshire and Humberside 29,600 East Midlands 34,700 East Anglia 44,600 Greater London 60,900 South East 53,200 South West 43,700 West Midlands 33,800 North West 31,300 Wales 30,200 Scotland 26,500 Northern Ireland 24,200 United Kingdom 38,300

To ask the Chancellor of the Exchequer how many mortgagors claiming mortgage tax relief have an outstanding mortgage greater than(a) £30,000, (b) £35,000, (c) £40,000 and (d) £45,000; and what is their average annual income.

[holding answer 9 February 1990]: Provisional estimates for 1989–90 are given in the table:

 Mortgage greater than Mortgagors (thousands) Average total income £ £ £ 30,000 2,100 23,500 35,000 1,600 23,500 40,000 1,200 24,500 45,000 900 26,000

To ask the Chancellor of the Exchequer if he will publish a table showing the average outstanding mortgage for mortgagors claiming mortgage interest tax relief for annual income ranges(a) under £5,000, (b) £5,001 to £7,500, (c) £7,501 to £10,000, (d) £10,001 to £15,000, (e) £15,001 to £20,000, (f) £20,001 to £30,000, (g) £30,001 to £50,000 and (h) over £50,000.

[holding answer 9 February 1990]: Provisional estimates for 1989–90 are given in the table:

 Range of total income Average mortgage £ per annum £ under 5,000 12,300 5,001 to 7,500 14,900 7,501 to 10,000 17,700 10,001 to 15,000 19,600 15,001 to 20,000 23,700 20,001 to 30,000 28,200 30,001 to 50,000 42,200 over 50,000 78,700

To ask the Chancellor of the Exchequer if he will update the table published in his reply to the hon. Member for Sunderland, North (Mr. Clay),Official Report, 15 May 1989, column 16, on mortgage tax relief, giving projections for 1990–91.

[holding answer 9 February 1990]: Latest estimates for 1989–90, based on the assumption that interest rates remain at current levels for the rest of 1989–90, are given in the table. These are based on projections to 1989–90 of information in the 1987–88 survey of personal incomes and the 1986 family expenditure survey and are provisional. Projections for 1990–91 will depend on the levels of borrowing and interest rates.

 Tax units receiving mortgage interest relief by range of total income 1989–90 Range of total income Numbers receiving mortgage interest relief (thousands) Average value of relief per mortgage Total cost of relief (£) (£ million) Up to £4,000 320 450 150 £4,001-£5,000 130 420 50 £5,001-£6,000 140 470 70 £6,0001-£7,000 230 520 120 £7,001-£8,000 440 570 250 £8,001-£9,000 450 640 290 £9,001-£10,000 390 640 250 £10,001-£12,000 870 610 530 £12,001-£15,000 1,440 700 1,000 £15,00l-£20,000 2,030 750 1,510 £20,001-£25,000 1,220 790 970 £25,001-£30,000 660 870 570 Over £30,000 980 1,270 1,240 Total 9,300 750 7,000

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