§ Mr. Spriggsasked the Secretary of State for the Environment under the terms of the Home Purchase Assistance and Housing Corporation Bill, assuming the total cost of a home purchased by a first time buyer is £10,000, how much the buyer will need to have saved to qualify for assistance by the autumn or the intervening period up to 1980.
§ Mr. ArmstrongIt is proposed that a first time buyer saving for two years can qualify for an extra loan of £600,576W provided he has accumulated savings of at least £600, and has kept a minimum of £300 for a full year, when he applies for assistance. There is an additional bonus of £40 to £110, depending on the level of savings. First benefits should be payable by about the autumn of 1980 to those buying a house with a mortgage.