Below is the text of Mr Major’s written Parliamentary Answer on Mortgage Arrears on 15th March 1990.
Mr. Litherland To ask the Chancellor of the Exchequer what was the number of people with mortgage payments six to 12 months in arrears in 1988 and 1989.
Mr. Rooker To ask the Chancellor of the Exchequer how many mortgages are in arrears in (a) the building society and (b) the banking sectors.
Mr. Major Around 37,000 in 1988 and around 58,000 in 1989 – less than ½ per cent. of all home owners.