48. Mr. Edward Taylorasked the Secretary of State for the Environment what are the present interest rates charged for loans for house purchase in Great Britain; and what are the comparable rates charged in the countries within the European Economic Community.
§ Mr. ChannonMost house purchase loans in Great Britain are at the Building Societies Association's recommended rate of interest. This is being reduced to 8 per cent. I am not aware of anything comparable with the Building Societies' recommended rate in the countries of the Community, where rates for this kind of loan vary.