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Housing: Low Incomes

Volume 473: debated on Thursday 13 March 2008

To ask the Secretary of State for Communities and Local Government what steps she is taking to monitor the proportion of affordable housing to be delivered on sites which have recently been granted planning permission by local authorities bidding to be housing growth points; and if she will ensure that account is taken of this proportion when decisions are made on the bids. (192483)

[holding answer 7 March 2008]: Data for sites granted planning permission for affordable housing are not collected centrally although statistics which show the numbers of affordable dwellings built are available. Affordability is a key emerging priority for many areas and we would expect this to inform local authority proposals for growth point status.

To ask the Secretary of State for Communities and Local Government (1) pursuant to the answer to the hon. Member for Welwyn Hatfield, of 31 January 2008, Official Report, column 583W, on housing: low incomes, what the current average annual percentage rate (APR) equivalent interest rate on the non-shared equity element of the Yorkshire Building Society Expanded Open Market Homebuy scheme is; whether the APR varies according to the size of the borrower's deposit; and whether the APR is variable, capped or fixed; (193775)

(2) whether there is a (a) mortgage indemnity guarantee and (b) arrangement fee charged on the Yorkshire Building Society Expanded Open Market Homebuy scheme;

(3) on what multiple of (a) a single person's income and (b) a couple's discount, the maximum amount that may be lent is calculated under the Yorkshire Building Society Expanded Open Market Homebuy scheme;

(4) how much the early redemption penalty for the Yorkshire Building Society Expanded Open Market Homebuy scheme is; and in what circumstances the penalty applies.

The questions do not relate to our low cost home ownership policy. They are in relation to loans offered by a mortgage lender.

The Yorkshire Building Society should be contacted for the detailed information requested.

To ask the Secretary of State for Communities and Local Government pursuant to the answer to the hon. Member for Welwyn Hatfield, of 31 January 2008, Official Report, column 583W, on housing: low incomes, what (a) minimum borrowers' deposit is required and (b) maximum loan to value is allowed under the Yorkshire Building Society Expanded Open Market Homebuy scheme. (193777)

No borrower's deposit is required under the Yorkshire Building Society Expanded Open Market Homebuy scheme. The maximum loan to value allowed under the scheme is 100 per cent.

To ask the Secretary of State for Communities and Local Government how many completed purchases there have been under the Open Market Homebuy Government Loan Only scheme to date. (193785)

Since the Open Market HomeBuy scheme was launched in April 2006, we have helped over 4,600 householders into home ownership.

Since July 2007, there have been 861 completed sales under the Open Market HomeBuy Government Loan Only scheme, to the end of February 2008.

To ask the Secretary of State for Communities and Local Government what the maximum loan to value ratio is, including the shared equity borrowing permitted, in (a) Open Market Homebuy and (b) Extended Open Market Homebuy. (193940)

The maximum loan to value ratio permitted under all the Open Market HomeBuy products, including the shared equity element, is 100 per cent.