William Clark – 1982 Parliamentary Question on the Right-To-Buy

The parliamentary question asked by William Clark, the then Conservative MP for Croydon South, in the House of Commons on 16 November 1982.

Sir William Clark

Is my right hon. Friend aware that with the recent 2 per cent. cut in mortgage interest, rates have come down by 5 per cent this year? Does she agree that in many cases it is cheaper for a council tenant to buy rather than to rent, which should be an added incentive for people to buy council houses?

Margaret Thatcher (The Prime Minister)

Yes. In many cases the discount permitted to council tenants and the tax relief on mortgage payments will mean that the net mortgage repayment is less than the rent that would otherwise have been paid. I hope that that fact will lead many council tenants to take the opportunity to purchase their houses under the right-to-buy legislation.