§ Mr. SpellarTo ask the Secretary of State for the Environment if he will make a statement about the refusal of building societies and banks to give mortgages on ex-council homes.
§ Sir George YoungI am not aware of the problems on the mortgageability of most homes sold under the right to buy and voluntary sales. There is a particulr problem in relation to ex-council flats in tower blocks, where some lending institutions are currently adopting cautious policies. As the housing market picks up, the situation should improve. Meanwhile we are investigating the scale of the problem and some possible solutions, together with the lenders and the local authority associations.