F7-30/99 Housing Corporation lending rates

With effect from 1 January 2000, the Housing Corporation's rates of interest for co-ownership schemes are:

30 Nov 1999

With effect from 1 January 2000, the Housing Corporation's rates of interest for co-ownership schemes are:
30/11/1999

Distributed to All co-ownership societies

Summary The Housing Corporation's rates of interest for co-ownership societies. This circular replaces circular F7-13/99.

1 Housing Corporation interest rates

1.1 With effect from 1 January 2000, the Housing Corporation's rates of interest for co-ownership schemes are:

Type of Scheme	Lending Rate %	Mortgage Term Years	Annuity Factor Per £100 lent
Co-ownership	6.92	40	7.407
(MIRAS)	6.23		6.816

1.2 Societies will have been notified individually of the mortgage repayments due at the new rate.

1.3 The annuity factors quoted above are the rates applicable for new loans taken out with a 40 year term at the revised rate of interest. Societies who wish to calculate or check their revised payments on their existing mortgages should refer to published annuity tables.

2 Enquiries

2.1 Please direct any enquiries on this circular to Dennis Chambers, The Housing Corporation, 149 Tottenham Court Road, London W1P 0BN. Telephone 020 7393 2205.