§ Mr. Spriggsasked the Chancellor of the Exchequer what were the building society interest rates at the end of 1950 and 1960, respectively, for house mortgages borrowed on 10- and 25-year agreements; and what were the monthly repayments in each instance.
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§ Mr. Maurice MacmillanThe rates of interest on new mortgages recommended to their members by the Council of the Building Societies Association were 4 per cent. at the end of 1950 and 6 per cent. at the end of 1960 for both ten and twenty-five year agreements. In 1950 the monthly repayments for each £1,000 borrowed were £10 5s. 10d. for a ten-year term and £5 7s. 6d. for a twenty-five year term; in 1960 they were £11 6s. 8d. for a ten-year term and £6 10s. 10d. for a twenty-five year term.