§ Mr. Arthur Lathamasked the Secretary of State for the Environment what proportion of the £157 million allocated for building society lending on the nomination of local authorities is likely to be taken up in 1977–78.
§ Mr. FreesonAbout two-thirds.
§ Mr. Arthur Lathamasked the Secretary of State for the Environment if he is satisfied with the operation of the scheme under which local councils nominate people for building society mortgages; and if he will make a statement.
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§ Mr. FreesonI am continually seeking ways to improve the operation of the scheme, with the co-operation of the local authorities and the building societies. Several important measures are being introduced in 1978–79:
- (1) the appeals procedure and the publication by the societies of the broad criteria on which they lend;
- (2) the extension of the scheme to all housing authorities wishing to participate;
- (3) the forthcoming publication of a "code of good practice".
I hope that these measures—and the continuing building up of relationships between societies and local authorities—will lead to a higher take-up in 1978–79 of the £300 million available in Great Britain.
§ Mr. Arthur Lathamasked the Secretary of State for the Environment if he will publish his Department's monitoring survey of the building societies' support lending 1977–78.
§ Mr. FreesonI would refer my hon. Friend to the answer I gave the hon. Member for Melton (Mr. M. Latham) on 13th April 1978.