§ 52. Mr. Ripponasked the Minister of Housing and Local Government whether he has completed the urgent consideration of the effect of the provisions of the Finance Bill on the operation of the mortgage option scheme; and if he will make a statement.
§ Mr. MacCollIt has always been made clear that the choice between option and ordinary mortgages should be based on a judgment of the balance of advantage over the life of the mortgage. In the minority of cases, where the advantage or disadvantage of an option mortgage is marginal, changes in family circumstances, interest rates or tax can marginally tip the balance of advantage the other way. But to provide for new options whenever this occurred would make the scheme unworkable.