asked the Minister for the Environment the estimated cost of a 35 per cent subsidy on all mortgage amounts up to £25,000 per house.
Written Answers. - Mortgage Subsidy Cost.
402.
Statistics are not available which would enable the cost of a subsidy on mortgage loans up to £25,000 to be calculated separately. The total value of outstanding building society mortgages at 30 June 1980 amounted to £772 million and of this sum the great bulk was in respect of home loans not exceeding £25,000. An interest subsidy of 35 per cent on the outstanding total at the interest rate of 14.15 per cent currently payable to societies generally on home loans would cost £38 million approximately per annum.