Skip to main content

Housing Associations: Borrowing

Volume 474: debated on Thursday 24 April 2008

To ask the Secretary of State for Communities and Local Government what assessment (a) her Department and (b) the Housing Corporation has made of the effect of instability in the credit markets on borrowing by housing associations from the open market. (198866)

The Housing Corporation has instigated a quarterly review with all partner developing housing associations. Their conclusions from the last review in January are that most associations have sufficient facilities in place and agreed with lenders to fund their business plans, including new development for the next two years. The corporation does not, at this point, anticipate that the tightening of the credit market should adversely impact on housing associations ability to meet either their service commitments to tenants or development targets.