That is welcome news. Is the Minister aware that council leaseholders are lobbying here this afternoon and that they have only invited Tory Members as they think that Tory Members need educating about the effects of believing Government propaganda about buying their flats? Some local authorities are willing in principle to buy back the flats of people who were persuaded by the Government to buy their flats and who now find that they cannot sell them, but the authorities cannot because they do not have the capital. Is it not about time that those people were given some help to get out of the trap in which they have found themselves?
The hon. Gentleman ought to know that the Government are concerned about the position of leaseholders who are unable to raise mortgages on properties which they have bought. We are working hard on a scheme to introduce a more flexible form of agreement which local authorities can use to assist in the sale of flats by indemnifying commercial mortgage lending to new purchasers. We are also looking at an exchange sales scheme to help local authorities to Cake back certain flats which have been affected by mortgageability difficulties in exchange for selling leaseholders another home more suitable for their needs.