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Written question asked by Lord Taylor of Warwick (Non-affiliated) on Monday, 26 February 2024, in the House of Lords. It was due for an answer on Monday, 11 March 2024. It was answered by Baroness Scott of Bybrook (Conservative) on Thursday, 7 March 2024 on behalf of the Department for Levelling Up, Housing and Communities.

First Time Buyers and Private Rented Housing

Question

To ask His Majesty's Government what steps they are taking (1) to promote housing affordability and stability for renters, and (2) to support first-time buyers.

Answer

This Government is committed to delivering a better deal for renters, improving the private rented sector for responsible tenants and good landlords.

The Renters (Reform) Bill was introduced in Parliament on 17 May 2023 and will deliver the government’s commitments. The Bill increases security of tenure for tenants by abolishing section 21 evictions. The new tenancy system will also reassure tenants that, apart from in specific circumstances set out in legislation, their rented home is theirs for as long as they want.

We continue to work towards our ambition of delivering 300,000 homes per year to help create a more sustainable and affordable housing market. Individuals who need help to make rent payments may be eligible for financial support through the welfare system. From April 2024, we will invest £1.2 billion restoring Local Housing Allowance (LHA) rates to the 30th percentile of local market rents. For others who face a shortfall, Discretionary Housing Payments are available from local authorities; the Government has provided almost £1.7 billion of this funding to local authorities since 2011.

Secondary information

Type
Written question
Reference
HL2766
Session
2023-24
Attachment
The Renters (Reform) Bill
Subjects
Government assistance Private rented housing First time buyers Affordable housing
Link
View this Written question on www.parliament.uk