§ Mr. Chris SmithTo ask the Chancellor of the Exchequer if he will list in tabular form, and at constant prices the amounts which would be payable each month(a) at 15 per cent. and (b) at 9.8 per cent., on a standard repayment mortgage repayable over 25 years, of each of the regional average mortgages listed in his answer of 19 February, Official Report, column 518, to the hon. Member for Nottingham, North (Mr. Allen).
§ Mr. Lilley[holding answer 8 March 1990]: The monthly interest payments, after deduction of basic rate tax relief, for part (a) are given in the table. For part (b), I refer the hon. Member to my answer to the hon. Member for Nottingham, North (Mr. Allen) on 26 February 1990, Official Report, column 12.
Region Average new mortgage1 Monthly payment2 15 per cent, interest rate £ £ Northern 28,400 266.25 Yorkshire and Humberside 29,600 277.50 East Midlands 34,700 340.00 East Anglia 44,600 463.75 Greater London 60,900 667.50 South East 53,200 571.25 South West 43,700 452.50 West Midlands 33,800 328.75 North West 31,300 297.50 Wales 30,200 283.75 Scotland 26,500 248.44 Northern Ireland 24,200 226.88 United Kingdom 38,300 385.00 1 Third quarter 1989. 2 Assuming endowment mortgage.