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Housing: Middlesbrough

Volume 463: debated on Wednesday 12 September 2007

To ask the Secretary of State for Communities and Local Government how many people in Middlesbrough, South and East Cleveland have received assistance under the Homebuy scheme. (143430)

The Homebuy scheme was launched in April 2006. Provisional figures for 2006-07 show that 27 homes were completed under the New Build Homebuy scheme in the Middlesbrough council area and none in Redcar and Cleveland borough council. No purchases were made under Open Market Homebuy in either Middlesbrough or Redcar and Cleveland in 2006-07.

In addition Middlesbrough benefited from two sales under Right to Acquire and one through a Social Homebuy pilot scheme. Redcar and Cleveland also benefited through 16 Right to Acquire sales.

This information is not available on a constituency basis.

For the remainder of 2007-08, we are making changes to the Open Market Homebuy product to offer purchasers greater choice and improve affordability.

From 23 July we are offering a new 17.5 per cent. Government equity loan product, which purchasers will be able to use more flexibly as a deposit and take to any lender on the open market. This will complement the existing scheme of a 12.5 per cent. equity loan matched by a 12.5 per cent. equity loan from one of four mortgage lenders.