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49852
star this property registered interest false more like this
star this property date less than 2014-05-06more like thismore than 2014-05-06
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government, further to the answer by Lord Ahmad of Wimbledon on 26 March (HL Deb, col 528), what was the basis on which he described the sale of the student loan book for £160 million as "value for money for the taxpayer"; and what was the original value of the loans. more like this
star this property tabling member printed
Lord Barnett more like this
star this property uin HL6852 remove filter
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-05-14more like thismore than 2014-05-14
star this property answer text <p>The Mortgage Style loans offered for sale had a face value of around £890 million.</p><p>The sale of the Mortgage Style Loan Book was value for money as the purchase price exceeded the value of retention to Government.</p><p>The real value of the book is below the face value of the loans because of the subsidised nature of the loans and their age. These loans attract low interest rates and have an earnings threshold for repayment. The age-related write off combined with the earnings threshold means some borrowers never repay.</p><p> </p><p>The sale of Mortgage style Loans also allowed the Student Loans Company to focus on its core business of supplying income contingent loans (ICR) to current students and collecting repayments from those loans.</p><p> </p> more like this
star this property answering member printed Lord Ahmad of Wimbledon more like this
star this property question first answered
less than 2014-05-14T12:00:00.00Zmore like thismore than 2014-05-14T12:00:00.00Z
unstar this property answering member
4210
star this property label Biography information for Lord Ahmad of Wimbledon more like this
star this property tabling member
1018
unstar this property label Biography information for Lord Barnett more like this