Mortgage Interest Rates

HC Deb 03 April 1974 vol 871 cc362-3W

66. Mr. Ridley

asked the Secretary of State for the Environment what is his policy on the appropriate rate of interest on mortgages.

91. Mr. Douglas-Mann

asked the Secretary of State for the Environment whether he will hold discussions with the Building Societies Association with a view to establishing a stabilisation fund.

Mr. Freeson

The Building Societies Association decided last week not to recommend any mortgage rate increase at present. The Government and the association will complete before Easter an intensive joint study of the question of mortgage rates in the short term.

Mrs. Wise

asked the Secretary of State for the Environment whether he will examine the proposals submitted to his Department under the previous administration by the National Association of Estate Agents designed to shield the average owner-occupier from the worst effects of high mortgage interest rates.

Mr. Freeson

All possibilities will be considered in the intensive study with the Building Societies Association of the short-term problems.