HC Deb 07 November 1975 vol 899 cc365-6W
Mr. Anderson

asked the Secretary of State for Wales, of the sum of £5 million allocated by the building societies in Wales additional to their normal allocation (a) for what period the sum is allo- cated, (b) in what specific ways the building societies have agreed to modify their investing criteria in terms, for example, of the proportions of the purchase price covered, and (c) what, in the light of the total sum expected to be lent in Wales, the average size of mortgages and current rate of increase in house prices he estimates to be the number of additional loans to be made as a result of this new facility.

Mr. John Morris

The information is as follows: (a) the £5 million is allocated for the current financial year. (b) the societies' lending criteria in respect of the commercial viability of the property and the financial standing of the borrower will continue to apply. The criteria and their application may vary from society to society and are matters wholly for them to determine, but the societies have assured me that they will be as helpful and as flexible as possible in the operation of the scheme. (c) About 800.