§ Mr. Walter Johnsonasked the Secretary of State for the Environment if he will make representations to the building societies asking them to grant 100 per cent. mortgages to young people buying their homes for the first time thereby giving a boost to the building construction industry.
§ Mr. FreesonArrangements already exist, under the Government's Option Mortgage Guarantee Scheme, which facilitate the granting of higher percentage mortgages. Apart from this, building societies do have regard to the needs of first-time buyers who, on average, receive a much higher percentage advance—currently over 75 per cent.—than former owner-occupiers. The general problems faced by young house buyers are of course being considered in the context of the Housing Finance Review.