I think that most mortgage payers would take a slightly different view of the fall in interest rates from that advocated by the hon. Gentleman. His point about homelessness should also be seen in perspective: repossessions account for about 10 per cent. of homelessness—they are not a significant factor.

As I have said, I will be meeting the Council of Mortgage Lenders tomorrow, and talking through with it some of its proposals to help families to avoid going into bed-and-breakfast accommodation after their homes have been repossessed.