§ Mr. RaynsfordTo ask the Chancellor of the Exchequer, pursuant to his oral answer of 2 February to the hon. Member for Warrington, North, (Mr. Hoyle)Official Report, column 1201, what advice he has received from the Council of Mortgage Lenders about the likely effect of the changes he proposed in the Budget to income support for home owners' mortgage interest payments on the number of repossessions.
§ Mr. Nelson[holding answer 7 February 1995]: The Department of Social Security has on-going discussions with the Council of Mortgage Lenders and will continue to do so throughout the consultation process. The council has expressed concern about the possible impact of the proposals. The Government are listening carefully to its concerns but believe that the proposed changes will result in the development of comprehensive quality insurance which will provide better protection for all home owners against repossession, not just those who currently receive income support mortgage interest.