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Charlie Elphicke:To ask the Secretary of State for Communities and Local Government how many completed sales took place under the (a) Social Homebuy scheme and (b) Rent to Homebuy scheme from its commencement to the end of April 2010.

[101034]

Asked by
Charlie Elphicke (Conservative)
Answering body
Communities and Local Government
Type
Written questions
Status
Answered
Date
1 May 2012
Reference
101034; 543 c1425W
House
House of Commons
Deposited by
Department for Communities and Local Government
Type
Deposited papers
Date
18 January 2010
Reference
DEP2010-0127
House
House of Commons
Type
House of Commons papers
Date
20 July 2009
Reference
HC 852 2008-09
House
House of Commons
Deposited by
Department for Communities and Local Government
Type
Deposited papers
Date
19 June 2009
Reference
DEP2009-1760
House
House of Commons

To ask Her Majesty's Government why, further to the answer by Baroness Andrews on 14 May (Official Report, House of Lords, cols. 1105–07) on funding purchasers under the MyChoiceHomeBuy scheme which stated that "where the funding has been approved, we have released funding and people will get their equity loans",...

Asked by
Baroness Gardner of Parkes (Conservative)
Type
Written questions
Status
Answered
Date
9 June 2009
Reference
4006; 711 c144WA
House
House of Lords

To ask Her Majesty's Government further to the answer by Baroness Andrews on 14 May (Official Report, House of Lords, cols. 1105–07) on funding purchasers under the MyChoiceHomeBuy scheme, when will more funding be available under the scheme for applicants who have complied with the application procedures but who have...

Asked by
Baroness Gardner of Parkes (Conservative)
Type
Written questions
Status
Answered
Date
9 June 2009
Reference
4007; 711 c144WA
House
House of Lords
Deposited by
Department for Communities and Local Government
Type
Deposited papers
Date
2 June 2009
Reference
DEP2009-1609
House
House of Lords
Deposited by
Department for Communities and Local Government
Type
Deposited papers
Date
1 June 2009
Reference
DEP2009-1580
House
House of Commons
Since 1 April 2008, the Government have helped 3,123 purchasers to buy a MyChoiceHomeBuy property. This week, the HCA has released £126 million specifically for MyChoiceHomeBuy to help a further 3,000 households.
Answered by
Baroness Andrews (Labour)
Type
Oral answers to questions
Date
14 May 2009
Reference
710 c1105
House
House of Lords
My Lords, the noble Baroness is right. This is a popular, generous scheme, for which there is a lot of demand. I have to make it clear that everyone who was interested in the MyChoiceHomeBuy scheme would have been told that they should not spend any money on surveys or solicitors, for example, until the funding was approved. Where the funding has been approved, we have released funding and people will get their equity loans. Now we are considering what we should do in terms of next steps and funding for the affordable housing programme as a whole.
Answered by
Baroness Andrews (Labour)
Type
Oral answers to questions
Date
14 May 2009
Reference
710 c1105
House
House of Lords
My Lords, will the Minister tell us who runs this organisation and how many people are involved in it?
Asked by
Baroness Sharples (Conservative)
Oral questions - Supplementary
Status
Answered
Date
14 May 2009
Reference
710 c1106
House
House of Lords
My Lords, does the Minister agree that the current crisis in the housing market presents a real opportunity to get away from the emphasis on property ownership and back towards providing homes for people? In that context, would this money not have been better spent on providing socially rented accommodation?
Asked by
Baroness Scott of Needham Market (Liberal Democrat)
Oral questions - Supplementary
Status
Answered
Date
14 May 2009
Reference
710 c1106
House
House of Lords
My Lords, does the Minister agree that, although these HomeBuy initiatives are very useful as far as they go, in the great scheme of things they will help only a small number of people. The underlying problem is the acute shortage of homes compared with the number of new households formed each year. Does she accept the conclusion this month of the independent National Housing and Planning Advice Unit that, unless we substantially increase the supply of new homes to rent as well as to buy, after the recession we will face much higher house prices and much more acute shortages than we have had so far?
Asked by
Lord Best (Crossbench)
Oral questions - Supplementary
Status
Answered
Date
14 May 2009
Reference
710 c1105-6
House
House of Lords
My Lords, I thank the Minister and I am delighted to hear that further funds have been released. As she probably knows, this is an enormously popular scheme, with 200 applications a week, yet in the whole of the past year only 400 to 800 sales went through. Some people were promised money before the cash ran out and before the immediate release of new money. People who have been promised money have entered into contracts with surveyors and solicitors and have made mortgage arrangements; they are now out of pocket because they were refused money, having been told that they would get it. What will be done to help those people? I understand that they can now proceed with their purchase if the new money is available. However, if their house has already been sold, what will be done to help them?
Asked by
Baroness Gardner of Parkes (Conservative)
Oral questions - 1st Supplementary
Status
Answered
Date
14 May 2009
Reference
710 c1105
House
House of Lords
My Lords, I agree with my noble friend Lady Gardner that this is an absurd situation and distressing for potential home buyers, especially when there is cash that is unutilised in other housing schemes. For example, the HomeBuy Direct scheme has £300 million available but, amazingly, according to Hansard, as at the end of March no transactions had taken place. It is therefore heartening to hear from the Minister that, at last, the extra funds will be made available to MyChoice. Will she tell the House when this cash will be available for use? Would it not be better to have one pot for all the HomeBuy funds, so that money is made available as and when it is necessary and none of the schemes will run out of money again?
Asked by
Earl Cathcart (Conservative)
Oral questions - Supplementary
Status
Answered
Date
14 May 2009
Reference
710 c1106-7
House
House of Lords
My Lords, the MyChoice organisation involves 15 housing associations. Eight of those are members of the CHASE consortium and are equity loan providers. The housing associations are spread across the country—one in every region—and people who are interested in these sorts of products go to those housing associations, which help them through the process to see whether they are eligible and to find them a suitable property.
Answered by
Baroness Andrews (Labour)
Type
Oral answers to questions
Date
14 May 2009
Reference
710 c1106
House
House of Lords
Yes, my Lords, I certainly accept that, which is why we do not renege on our ambitious target of 240,000 homes a year. We know that, no matter how difficult the current housing situation is, the demography and the demand will not change. We need to make available as much help and incentive as possible for the housebuilding industry in particular. As the noble Lord will know, we provided £200 million towards bringing forward unsold stock for social rented homes and, in the Budget, £400 million of kick-start for the stalled construction industry. We have to use a variety of initiatives to maintain jobs and the supply of housing.
Answered by
Baroness Andrews (Labour)
Type
Oral answers to questions
Date
14 May 2009
Reference
710 c1105-6
House
House of Lords
My Lords, the challenge that the Government have is to meet the diverse demands of the housing market. The noble Baroness is absolutely right: it is not just about home ownership but also about social rented homes. That is why we made £200 million available for unsold stock to be brought forward from developers for the housing associations. We have given £100 million to local authorities to stimulate their own housebuilding programmes. We have to meet diverse needs, including those of aspiring home owners. We need to reduce waiting lists for those who need help in accessing social rented housing. We also need to help people who are in difficulties with their mortgages, which is why we have mortgage rescue and mortgage support schemes. We are trying to do all that while stimulating the housebuilding industry.
Answered by
Baroness Andrews (Labour)
Type
Oral answers to questions
Date
14 May 2009
Reference
710 c1106
House
House of Lords
My Lords, the money that I spoke of—the £126 million to fund people—is now immediately available. I sympathise with the noble Lord’s suggestion that there should be one pot but, as I have explained, the diversity of need makes that difficult to provide. I know that this is no substitute but, because the terminology of some of these projects overlaps—HomeBuy Direct, Social HomeBuy, HomeBuy and so on—I propose to put a document in the Library that sets out the different schemes and the different forms of funding, which should help noble Lords. I am afraid that I do not recognise the figure of £300 million for HomeBuy Direct. What we have provided is £400 million to kick-start new land and new homes. HomeBuy Direct, which is the scheme where equity is shared with developers, may be funded from that, which might be what the noble Lord was thinking about.
Answered by
Baroness Andrews (Labour)
Type
Oral answers to questions
Date
14 May 2009
Reference
710 c1106-7
House
House of Lords
To ask Her Majesty’s Government how many intending purchasers have been helped to buy properties under the MyChoiceHomeBuy scheme; and what funding remains available to prospective purchasers.
Asked by
Baroness Gardner of Parkes (Conservative)
Oral questions - Lead
Status
Answered
Date
14 May 2009
Reference
710 c1105
House
House of Lords