Housing: Low Incomes

Communities and Local Government written question – answered on 1st February 2008.

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Photo of Grant Shapps Grant Shapps Shadow Minister (Communities and Local Government) (Housing and Planning), Co-Chair, Conservative Party

To ask the Secretary of State for Communities and Local Government

(1) to what extent a homebuyer has liability for the (a) Homebuy Agent's and (b) Yorkshire Building Society's equity loss if their home purchased under 32.5 per cent. Open Market Homebuy scheme is subsequently sold at less than the purchase price;

(2) under the 32.5 per cent. Open Market Homebuy scheme, what liability the Homebuy Agent has for (a) their own and (b) Yorkshire Building Society's equity loss if a property is subsequently sold for less than the original purchase price.

Photo of Caroline Flint Caroline Flint Minister of State (Department of Communities and Local Government) (Housing)

The information requested can be found in the booklet 'Exclusive Open Market HomeBuy Mortgage—for those eligible to buy a home under the Government's Open Market HomeBuy Scheme', a copy of which has been placed in the Library of the House.

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