To ask the Secretary of State for Communities and Local Government pursuant to the answer of 13 October 2008, Official Report, column 982W, on local authorities: mortgages, which building society lending rates are used for the purpose of reviewing the standard national rate (SNR) for local authority mortgages; and what those rates were at the time of the last review of the SNR.
The names and lending rates of the societies which were used in the
|Building society||Standard Variable R ate|
By means of a weighting mechanism to take account of the mortgage market share of the building societies, the standard national rate is calculated using their standard variable rates.
The standard national rate for local authority mortgages was last reviewed on