§ Mr. SalmondTo ask the Secretary of State for Scotland what assessment he has made of the impact of the recent announcement relating to negative equity on housing mortgages in Scotland; if he will publish details of this assessment; and how many mortgagors in Scotland have taken advantage of the regulation.
§ Lord James Douglas-HamiltonThe problem of negative equity is less pronounced in Scotland than in other regions of the United Kingdom, affecting only an estimated 1 per cent. of recent home buyers. It is open to anyone in that position to discuss their situation with their mortgage lender.