Local Authority Mortgage Interest Rates (Hansard, 15 March 1995)

HC Deb 15 March 1995 vol 256 c595W 595W

Mr. Alto
n: To ask the Secretary of State for the Environment if Liverpool city council, when it sold its mortgages in 1985 and in 1992, was required to apply the Department's upper levels of statutory interest rates to mortgages; and if he will make a statement.

§ Mr. Robert B. Jones
No. The statutory provisions governing local authority mortgage interest rates do not apply where a mortgage has been transferred to a commercial lender.