Read transcripts of debates in both Houses
Track the progress of new laws through Parliament
Search for Members by name, postcode, constituency and party
Learn about their experience, knowledge and interests
Find out about the role of Parliament’s two Houses
Learn about the history and evolution of Parliament
Find out how you can get involved in the work of Parliament
Book tours of Parliament on Saturdays throughout the year
Watch committees and debates
Browse teaching resources by key stage, subject, theme or resource type
Inquiry status: inquiry launched
The Help to Buy equity loan scheme is a £3.7 billion programme designed to boost home ownership by making loans to buyers of up to 20% of the value of new build homes up to £600,000 in value. Both first-time buyers and home-movers can apply, regardless of income, so long as the terms are affordable and they are not buying a second home. The scheme is run by the Department for Communities and Local Government and the Homes and Communities Agency (the Agency), through registered private developers and agents. This is a flagship scheme designed to increase access to home-ownership and encourage housing developers to build more new homes. The scheme is similar to past programmes, such as Firstbuy but covers much more of the market and much more money is available. Because the scheme is an equity investment, the taxpayer will be exposed to the risk from any defaults, bad debts, or fluctuations in house prices. The Agency and the Department will have to manage this risk and also carry any gains and losses on their balance sheets for, potentially, as long as 25 years or even more.
Public Accounts publishes its report into the Help to Buy equity loans scheme as its 2nd Report of Session 2014-15, HC 281
Public Accounts Committee hold evidence session at 2.15pm, Wednesday 2 April 2014
No business announced
Evidence given by Sir Bob Kerslake, Permanent Secretary, and Peter Schofield, Director General for Neighbourhoods, Department for Communities and Local Government, and Andrew Rose, Chief Executive, Homes and Communities Agency.