Mortgage Interest Rates (Hansard, 23 February 1989)

HC Deb 23 February 1989 vol 147 c775W 775W

§ 56. Mr. Ieuan Wyn Jones
To ask the Chancellor of the Exchequer if he will make a statement on the impact on first-time house buyers of the increase in mortgage interest rates since September 1988.

§ Mr. Lilley
Increases in mortgage rates mean that all mortgage payers, including first-time house buyers, will for a period need to cut back on other expenditure. But the resurgence of inflation which would have followed if the Government had failed to take action would have been far more damaging.