§ Mr. DafisTo ask the Chancellor of the Exchequer if he will make it his policy to amend the Building Societies Act 1986 to enable mortgage lenders to transfer shortfall suffered when redeeming the mortgages from sale proceeds to new mortgage accounts.
§ Mr. DorrellWe have no plans to do so.
We recently announced two new measures which will help borrowers with a shortfall to move house (Official Report, 20 October 1992, column 243).
§ Mr. DafisTo ask the Chancellor of the Exchequer if he will introduce legislation to require housing loan lenders to explore alternative legal remedies for debt recovery before repossession is considered.
§ Mr. DorrellWe have no plans to do so.