Local Authority Leaseholders

Part of Oral Answers to Questions — Environment – in the House of Commons at 12:00 am on 18th January 1995.

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Photo of David Curry David Curry , Skipton and Ripon 12:00 am, 18th January 1995

The hon. Gentleman ought to know that the Government are concerned about the position of leaseholders who are unable to raise mortgages on properties which they have bought. We are working hard on a scheme to introduce a more flexible form of agreement which local authorities can use to assist in the sale of flats by indemnifying commercial mortgage lending to new purchasers. We are also looking at an exchange sales scheme to help local authorities to Cake back certain flats which have been affected by mortgageability difficulties in exchange for selling leaseholders another home more suitable for their needs.