James Cartlidge – 2016 Parliamentary Question to the Department for Communities and Local Government
The below Parliamentary question was asked by James Cartlidge on 2016-09-15.
To ask the Secretary of State for Communities and Local Government, what the total estimated net present value was of all outstanding equity loan advances in UK residential property held by government departments on the latest date for which information is available.
Gavin Barwell
The Homes and Communities Agency (HCA) operates and administers a number of current and past equity loan and equity share schemes for the Department for Communities and Local Government.
The estimated fair value for all outstanding equity loans with HCA at end March 2016 is:
Help to Buy: Equity Loan £3,629,294,000
Other legacy home equity schemes £461,301,000
Total £4,090,595,000
The other legacy home equity schemes are: FirstBuy, HomeBuy Direct and First-Time Buyers’ Initiative.
This information is set out in the HCA Annual Report and Financial Statements 2015-16 (Note 21) with further information about ‘fair value’ in Notes 1 and 31.
The Ministry of Defence operated a scheme: Affordable Homes Ownership scheme (AFHOS) until March 2014. There are presently 259 live AFHOS loans with an initial value of £15.073 million. The net present value for this book is not estimated so this figure is the value of the equity at purchase.
The Scottish and Welsh Governments and the Northern Ireland Housing Executive also operate equity loan and shared schemes for home ownership, on which they can provide information.
