§ Mr. Tierneyasked the Secretary of State for the Environment how many building societies are considering raising their mortgage rates to 11¾ per cent.; and if he will now seek powers to make the raising of rates subject to his control.
§ Mr. DellI have been asked to reply.
I am aware that one building society has recently decided to raise its mortgage rate to 11¾ per cent., and I have noted my hon. Friend's suggestion that rate increases should be subject to control.