§ Mr. DenhamTo ask the Secretary of State for the Environment (1) how many mortgage indemnity agreements he has approved under section 442 of the Housing Act 1985;
(2) how many local authorities have agreed to indemnify mortgages under section 442 of the Housing Act 1985; and how many properties have been indemnified.
§ Sir George YoungThe Secretary of State approved a standard form of mortgage indemnity agreement in October 1988. This superseded earlier approved forms of agreement.
In the period 1 April 1986 to 30 September 1993, 48 English local authorities reported entering into mortgage indemnity agreements. The estimated total number of mortgages indemnified by local authorities during this period is some 2,500.