Shared Ownership Schemes: Energy

Department for Levelling Up, Housing and Communities written question – answered at on 25 October 2023.

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Photo of Justin Madders Justin Madders Shadow Minister (Future of Work), Shadow Minister (Employment Rights and Protections)

To ask the Secretary of State for Levelling Up, Housing and Communities, what assessment he has made of the impact of energy costs on the purchase of shared ownership extra care schemes.

Photo of Rachel Maclean Rachel Maclean The Minister of State, Home Department, Minister of State (Department for Levelling Up, Housing and Communities)

All shared ownership applicants must complete an affordability assessment with an independent, accredited financial adviser before completing their purchase. This assessment is designed to establish the size of share that the applicant should purchase and to ensure that they have the financial resources necessary to meet their ongoing housing costs over the long term.

Energy prices have come down 23% since their peak and the Government spent around £40 billion to cover around half a household's typical bill last winter, plus extra targeted support for older and disabled people. We are still providing extra support for those who need it most.

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