§ Mr. Cohenasked the Chancellor of the Exchequer what representations he has received seeking amendment of the law so that interest as well as capital on maturity loans and on home income plan mortgages can be rolled up during the lifetimes of the borrowers; and if he will make a statement.
§ Mr. Norman LamontMy right hon. Friend has received representations about tax relief on the interest on loans to purchase life annuities taken out by elderly home owners and secured on their homes. Repayment arrangements on such loans, including any provision for rolling up interest, are matters for agreement between the lender and the borrower.