§ Mr. WhiteTo ask the Chancellor of the Exchequer what recent discussions he has had with mortgage companies about repossessions caused by a shortfall between payments that income support cover and actual interest due. [105600]
§ Mr. BayleyI have been asked to reply.
None. Income Support cover is calculated using a standard interest rate which is based on the weighted average of basic rates charged by the main building societies. It should be noted that the standard interest rate is an average and there is not always a shortfall between Income Support cover and actual interest due.