Local Loans.

Oral Answers to Questions — Housing. – in the House of Commons on 22nd March 1922.

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asked the Minister of Health the separate total amounts of money raised for housing purposes by local authorities by means of housing bonds, local loans stock, mortgage deeds, Public Works Loan Commissioners, and from other sources, to- gether with the average rate of interest paid in each class of borrowing and the average periods for which the money has been borrowed without the option of a break, in each of the above cases?

STATEMENT showing the approximate Capital Moneys borrowed for Housing purposes, the average Rate of Interest payable, and the Period for which the Money has been borrowed.
Form of borrowing.Approximate not cash proceeds.Average effective rate of interest allowing for discount and expenses.Periods for which money has been borrowed without option of repayment.
Local Housing Bonds20,000,000650Chiefly 5 years.
Issue of Stock36,000,0006136Chiefly 20 years.
Mortgage Loans from Public Works Loans Commissioners.74,000,000666Full authorised period of the loan (from 20 to 80 years according to the nature of the work).
Other Mortgage Loans22,000,000650It is estimated that £12,000,000 of the amount is for periods less than 10 years, the remainder for periods of 10 to 60 years.