HC Deb 04 February 1987 vol 109 c668W
Mr. Meadowcroft

asked the Chancellor of the Exchequer what is the current estimated level of use of top-up mortgages by individuals as an illicit means of raising cheap loans; and what is the estimated cost to the Treasury.

Mr. Norman Lamont

It is not illicit for individuals to top-up their mortgages in order to borrow more cheaply than otherwise possible. If the hon. Member has in mind the extent of abuse of tax relief on loans ostensibly but not actually used for home improvement purposes, I would refer him to paragraph 32 of the Treasury minute in response to the Public Accounts Committee's 52nd report 1985–86 (published as Cmnd. 9846).