Mr. Alan W. WilliamsTo ask the Chancellor of the Exchequer if he will publish a table giving(a) the average mortgage interest rate for the leading building societies on 1 January, 1 April, 1 July and 1 October of each year since 1990, (b) the average interest rate paid to investors by the leading building societies on each of these dates and (c) the differential between them.
§ Mr. NelsonThe table gives(a) the average mortgage rates charged by building societies, (b) the average share rates paid by them and (c) the difference between the two, on each date specified. The rates are taken from "Financial Statistics" published by the Central Statistical Office. The interest rate paid to investors has been enhanced to take account of withheld tax paid by societies direct to the Inland Revenue, on investors' behalf.
Mortgage rate Gross share rate Differential 1990 January 14.44 13.28 1.16 April 15.24 14.21 1.03