HC Deb 15 December 1983 vol 50 cc531-2W
Dr. McDonald

asked the Secretary of State for Trade and Industry if he will introduce legislation to extend the advertising and quotations regulations of the Consumer Credit Act to cover building society and local authority mortgages so that both have to quote an annual percentage rate for mortgages; and if he will make a statement.

Mr. Alexander Fletcher

As I announced on 28 July — [Vol. 46, c. 575] —I have accepted the Director General of Fair Trading's view that the regulations should apply equally to all those engaged in house mortgage lending. I have consulted interested parties on the implementation of the Director General's recommendations, and I am now considering certain technical problems which have been raised. I shall make a further statement in due course.