Oral Answers to Questions — Mortgage Interest Rates

Part of the debate – in the House of Commons at 12:00 am on 7th May 1975.

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Photo of Dr Jim Marshall Dr Jim Marshall , Leicester South 12:00 am, 7th May 1975

May I draw my right hon. Friend's attention to the plight of those who have a mortgage from a local authority? It is a matter of real urgency. In my local authority, from 1st June these people are likely to be faced with a 13½ per cent. interest rate, which is some 2 per cent. higher than—