§ Mr. Wigley
asked the Secretary of State for the Environment if he will seek powers to provide graduated interest rates for mortgages to reduce the hardship to young married couples in purchasing houses.
§ Mr. Freeson
The mortgage rate charged by lenders is necessarily governed by the cost of their borrowing. House purchasers are, of course, eligible for substantial assistance through tax relief on mortgage interest or option mortgage subsidy, but my right hon. Friend is reviewing the need for special mortgage facilities for first-time house purchasers.