To ask the Secretary of State for Communities and Local Government pursuant to the answer of 3 February 2010, Official Report, column 361W, on Homes and Communities Agency and Tenant Services Authority loans, what rate of interest was applied to loans to staff; and for what reason the loans were made. (316737)

The Homes and Communities Agency and Tenant Services Authority staff loans break down as follows:

The season tickets, bicycle loans and salary advances are interest free and are to be repaid within 12 months of receipt.

The interest rate for the car loans which are available to those designated as an “essential user” varies according to the five years National Loan Funds rate which is compounded half yearly and converted into the annual percentage rate before being fixed for the term of the loan. The maximum term for car loans is five years.