Help to Buy Scheme: Insulation

Ministry of Housing, Communities and Local Government written question – answered on 8th February 2021.

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Photo of Shabana Mahmood Shabana Mahmood Labour, Birmingham, Ladywood

To ask the Secretary of State for Housing, Communities and Local Government, how many (a) Help to Buy equity loans and (b) Help to Buy ISAs have been awarded to people purchasing a home which has subsequently required remediation work as a result of faulty cladding and/or fire safety failures in (i) Birmingham, Ladywood constituency and (ii) England, in each of the last three years.

Photo of Shabana Mahmood Shabana Mahmood Labour, Birmingham, Ladywood

To ask the Secretary of State for Housing, Communities and Local Government, what the value is of (a) Help to Buy equity loans and (b) Help to Buy ISAs awarded to people purchasing a home which has subsequently required remediation work as a result of faulty cladding and/or fire safety failures in (i) Birmingham, Ladywood constituency and (ii) England in each of the last three years.

Photo of Shabana Mahmood Shabana Mahmood Labour, Birmingham, Ladywood

To ask the Secretary of State for Housing, Communities and Local Government, what assessment he has made of the risk of default for people awarded (a) Help to Buy equity loans and (b) a Help to Buy ISA to purchase a home which has subsequently required remediation work as a result of faulty cladding and/or fire and safety failures.

Photo of Christopher Pincher Christopher Pincher Minister of State (Housing, Communities and Local Government)

Information on the number of Help to Buy equity loan properties with ACM cladding can be found in the NAO’s report entitled Investigation into remediating dangerous cladding on high‑rise buildings, which is available at https://www.nao.org.uk/wp-content/uploads/2020/06/Investigation-into-remediating-dangerous-cladding-on-high-rise-buildings.pdf. Data at constituency level is not available.

Homes England does not assess the risk of default for this cohort as the homes can be valued and redeemed as normal.

There is no information available regarding purchases made using Help to Buy ISAs or Lifetime ISAs concerning homes bought in high-rise buildings. Neither is there any information available concerning the effect of cladding and/or fire safety issues on homes with Help to Buy equity loans other than for ACM cladding, as stated above.

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