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Housing: Low Incomes

Volume 463: debated on Tuesday 17 July 2007

To ask the Secretary of State for Communities and Local Government what recent discussions she has had with registered social landlords and housing corporations on using RSLs’ spare borrowing capacity for construction of new affordable homes. (149427)

We continue to have discussions with the Housing Corporation and housing associations on RSLs’ borrowing capacity. In March 2007, the corporation published ‘Unlocking the Door’, analysing how past investment locked up in stock could be released to finance more affordable housing. The corporation has concluded that there is unused capacity and that housing associations can borrow more against their existing businesses. There is therefore scope for efficiency savings to be secured for new affordable housing.

The Housing Corporation is currently considering the responses it has received to its consultation document on recycled capital grants and links to property values.