§ Sir Andrew BowdenTo ask the Chancellor of the Exchequer what is the current tax relief on mortgage interest for home income plans. [4956]
§ Mr. JackTax relief for interest paid by someone over 65 who takes out a loan, secured on his or her home, to buy a life annuity—often called a home income plan—is given at the basic rate of income tax. This is currently 25 per cent.