Homebuy Scheme

Communities and Local Government written question – answered on 5th March 2007.

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Photo of Julia Goldsworthy Julia Goldsworthy Shadow Chief Secretary To the Treasury, Treasury

To ask the Secretary of State for Communities and Local Government pursuant to the answer of 30 January 2007, Official Report, columns 286-87W, on the homebuy scheme,

(1) how many Government equity loans provided as part of the open market homebuy scheme have been allocated to individuals;

(2) what estimate her Department has made of the total value of the private sector equity loans.

Photo of Yvette Cooper Yvette Cooper Minister of State (Department of Communities and Local Government) (Housing and Planning)

From 1 April 2006 to 31 January 2007 the open market homebuy scheme has provided 1,858 individual Government equity loans, at a total value of £79 million.

On 2 October 2006, this scheme was developed in partnership with four lenders, enabling us to double the number of households helped with Government grant. There have already been at least 109 completions through the expanded scheme, and a further 6,000 purchasers have been accepted as eligible for the scheme.

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