§ Mr. AllenTo ask the Chancellor of the Exchequer, further to his written answer of 17 October on increases in mortgage payments, when he expects most mortgage borrowers to feel the effects of the recent reduction in mortgage rates.
§ Mr. Maples[holding answer 22 October 1990]: It will depend on the practices of the lenders concerned. Where lenders have reduced their mortgage rates, new borrowers in most cases have been affected already. Existing borrowers not on annual schemes will in most cases have their mortgage payments adjusted from November.
§ Mr. AllenTo ask the Chancellor of the Exchequer when he expects to have sufficient data to update his reply 107W to the hon. Member for Nottingham, North of 20 June, Official Report, column 558, on changes in mortgage payments.
§ Mr. Maples[holding answer 22 October 1990]: We expect to have sufficient data in the course of November.