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167937

	registered interest
	date	04/12/2014
	answering body	Department for Communities and Local Government
	answering dept id	7
	answering dept short name	Communities and Local Government
	answering dept sort name	Communities and Local Government
	hansard heading	Affordable Housing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Communities and Local Government, what the average (a) rent and (b) proportion of market rent is of the homes built or converted as part of the affordable rent model.
	tabling member constituency	Wolverhampton North East
	tabling member printed	Emma Reynolds
	uin	217193
	answer	answer is ministerial correction date of answer 13/01/2015 answer text <p>The average (median) rent of new Affordable Rent lets was £109 per week in England and £165 per week in London in 2013-14. These figures represent 80% of market rent across England and 55% of market rent in London.</p><p> </p><p>The Affordable Rent model allows for more new affordable housing to be delivered with lower levels of taxpayer capital subsidy and by levering in more private investment. The programme is helping deliver £15 billion of private investment in new affordable housing over the current spending review (2011-15), alongside £4.5 billion of public investment. Social rent and affordable rent go hand in hand; both help provide accommodation for those on low incomes.</p><p> </p><p> </p><p>As the National Audit Office has observed: “the Department selected the best delivery model open to it for the funds it had available” and “the Department has so far achieved its policy objective to maximise the number of homes delivered within the available grant funding” (National Audit Office, “Financial viability of the social housing sector: introducing the Affordable Homes Programme”, 4 July 2012, HC465, pp. 6-7).</p><p> </p><p> </p><p>Our Affordable Housing programme is set to deliver a further 275,000 new affordable homes between 2015 and 2020, levering in £38 billion of public and private investment.</p><p> </p> answering member constituency Great Yarmouth answering member printed Brandon Lewis question first answered 13/01/2015 16:17:32 answering member 4009 label Biography information for Sir Brandon Lewis previous answer version 32530 answering member constituency Great Yarmouth answering member printed Brandon Lewis answering member 4009 label Biography information for Sir Brandon Lewis
	tabling member	4077 label Biography information for Emma Reynolds

167938

	registered interest
	date	04/12/2014
	answering body	Department for Communities and Local Government
	answering dept id	7
	answering dept short name	Communities and Local Government
	answering dept sort name	Communities and Local Government
	hansard heading	Affordable Housing: Construction
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Communities and Local Government, how many affordable homes were completed on released public sector land sites in (a) 2010, (b) 2011, (c) 2012, (d) 2013 and (e) 2014; and how many he expects to be built on such sites in 2015.
	tabling member constituency	Wolverhampton North East
	tabling member printed	Emma Reynolds
	uin	217180
	answer	answer is ministerial correction date of answer 11/12/2014 answer text <p>Our records show that 217,000 new affordable homes have been delivered in England across all housing schemes since 2010.</p><p> </p><p>As has been explained to the hon. Member in answers to previous questions, this information is not broken down by (former) public land status.</p> answering member constituency Great Yarmouth answering member printed Brandon Lewis question first answered 11/12/2014 14:37:00 answering member 4009 label Biography information for Sir Brandon Lewis
	tabling member	4077 label Biography information for Emma Reynolds

167939

	registered interest
	date	04/12/2014
	answering body	Department for Communities and Local Government
	answering dept id	7
	answering dept short name	Communities and Local Government
	answering dept sort name	Communities and Local Government
	hansard heading	Private Rented Housing: Construction
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Communities and Local Government, how many homes have been completed as a result of the private renting component of the Housing Bond Guarantee Scheme.
	tabling member constituency	Wolverhampton North East
	tabling member printed	Emma Reynolds
	uin	217194
	answer	answer is ministerial correction date of answer 17/03/2015 answer text <p>I refer the hon. Member to the Written Ministerial Statement of 16 March 2015, HCWS413.</p> answering member constituency Great Yarmouth answering member printed Brandon Lewis grouped question UIN 217185 217196 question first answered 17/03/2015 16:43:13 answering member 4009 label Biography information for Sir Brandon Lewis previous answer version 32531 answering member constituency Great Yarmouth answering member printed Brandon Lewis answering member 4009 label Biography information for Sir Brandon Lewis
	tabling member	4077 label Biography information for Emma Reynolds

167940

	registered interest
	date	04/12/2014
	answering body	Department for Communities and Local Government
	answering dept id	7
	answering dept short name	Communities and Local Government
	answering dept sort name	Communities and Local Government
	hansard heading	Affordable Housing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Communities and Local Government, how many homes have been converted to the Government's affordable rent model since it was introduced.
	tabling member constituency	Wolverhampton North East
	tabling member printed	Emma Reynolds
	uin	217195
	answer	answer is ministerial correction date of answer 25/02/2015 answer text <p>The Homes and Communities Agency’s Statistical Data Returns report the number of rental accommodation properties that have been converted to affordable rent. The figures relate to private registered provider owned stock only, and can be found online at:</p><p><a href="https://www.gov.uk/government/collections/statistical-data-return-statistical-releases" target="_blank">https://www.gov.uk/government/collections/statistical-data-return-statistical-releases</a></p><p> </p><p>Detailed figures are not held centrally for local authority housing stock.</p><p> </p><p>The change in rental income from such conversions allows providers to borrow more to support the delivery of more new affordable homes.</p><p> </p><p>This Government has so far delivered 217,000 new affordable homes since 2010, and are bringing in £19.5 billion of public and private in affordable housing over the current Spending Review period. In the next Parliament, we are on track to deliver a further 275,000 new affordable homes, backed up by £38 billion of public and private investment.</p><p> </p><p>Conversions are not counted in these additional affordable homes figures.</p> answering member constituency Great Yarmouth answering member printed Brandon Lewis question first answered 25/02/2015 16:31:22 answering member 4009 label Biography information for Sir Brandon Lewis previous answer version 32532 answering member constituency Great Yarmouth answering member printed Brandon Lewis answering member 4009 label Biography information for Sir Brandon Lewis
	tabling member	4077 label Biography information for Emma Reynolds

167942

	registered interest
	date	04/12/2014
	answering body	Department for Communities and Local Government
	answering dept id	7
	answering dept short name	Communities and Local Government
	answering dept sort name	Communities and Local Government
	hansard heading	Private Rented Housing: Construction
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Communities and Local Government, how many applications under the Build to Rent scheme have been (a) received, (b) accepted and (c) refused from (i) private developers, (ii) housing associations, (iii) housing co-operatives, (iv) local authorities and (v) other entities.
	tabling member constituency	Wolverhampton North East
	tabling member printed	Emma Reynolds
	uin	217181
	answer	answer is ministerial correction date of answer 23/02/2015 answer text <p>The Build to Rent fund provides development finance to support the creation of a purpose-built private rented sector, backed by institutional private investment. The fund offers finance on a commercial basis, with returns to Government being realised upon refinancing or sale of a developer’s interest to an institutional investor. The fund is market- led and the response has been strong.</p><p> </p><p>In the first round, the Homes and Communities Agency shortlisted 43 bids: 22 were approved subject to conditions being met (4 registered providers, 2 public limited companies, 12 private companies, 4 others); 16 bids were withdrawn during the process of scrutiny during the shortlisting; 5 bids from private companies were rejected.</p><p> </p><p>In the second round, 36 eligible bids were originally shortlisted (1 registered provider, 5 public listed companies, 26 private companies, 4 others); 3 private bids have been approved so far; the consideration of the other shortlisted bids is ongoing.</p><p> </p><p>We estimate that the Fund will this year be committed in full, and I can confirm that the programme is on course to meet our 10,000 homes target.</p><p> </p> answering member constituency Great Yarmouth answering member printed Brandon Lewis question first answered 23/02/2015 16:54:54 answering member 4009 label Biography information for Sir Brandon Lewis
	tabling member	4077 label Biography information for Emma Reynolds

167943

	registered interest
	date	04/12/2014
	answering body	Department for Communities and Local Government
	answering dept id	7
	answering dept short name	Communities and Local Government
	answering dept sort name	Communities and Local Government
	hansard heading	Private Rented Housing: Construction
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Communities and Local Government, how many of the properties built under the Build to Rent scheme to date are (a) affordable, (b) social and (c) market rents.
	tabling member constituency	Wolverhampton North East
	tabling member printed	Emma Reynolds
	uin	217182
	answer	answer is ministerial correction date of answer 16/12/2014 answer text <p>As has been explained to the hon. Member in the answer to her identical question of 8 January 2014, <em>Official Report</em>, Column 257W, the Build to Rent fund is providing development finance to help support new homes in the private rented sector at market rent.</p><p> </p> answering member constituency Great Yarmouth answering member printed Brandon Lewis question first answered 16/12/2014 17:20:42 answering member 4009 label Biography information for Sir Brandon Lewis
	tabling member	4077 label Biography information for Emma Reynolds

167944

	registered interest
	date	04/12/2014
	answering body	Department for Communities and Local Government
	answering dept id	7
	answering dept short name	Communities and Local Government
	answering dept sort name	Communities and Local Government
	hansard heading	Private Rented Housing: Construction
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Communities and Local Government, how many bids for funding the Government has received for the private renting component of the Housing Bond Guarantee Scheme.
	tabling member constituency	Wolverhampton North East
	tabling member printed	Emma Reynolds
	uin	217196
	answer	answer is ministerial correction date of answer 17/03/2015 answer text <p>I refer the hon. Member to the Written Ministerial Statement of 16 March 2015, HCWS413.</p> answering member constituency Great Yarmouth answering member printed Brandon Lewis grouped question UIN 217185 217194 question first answered 17/03/2015 16:43:13 answering member 4009 label Biography information for Sir Brandon Lewis previous answer version 32534 answering member constituency Great Yarmouth answering member printed Brandon Lewis answering member 4009 label Biography information for Sir Brandon Lewis
	tabling member	4077 label Biography information for Emma Reynolds

167978

	registered interest
	date	04/12/2014
	answering body	Department for Communities and Local Government
	answering dept id	7
	answering dept short name	Communities and Local Government
	answering dept sort name	Communities and Local Government
	hansard heading	Private Rented Housing: Construction
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Communities and Local Government, what funds his Department has allocated to the Build to Rent scheme; and how much has been lent under that scheme to date.
	tabling member constituency	Wolverhampton North East
	tabling member printed	Emma Reynolds
	uin	217219
	answer	answer is ministerial correction date of answer 23/01/2015 answer text <p>The Build to Rent fund provides development finance to support the creation of a purpose-built private rented sector, backed by institutional investment. The fund is market- led and the response has been strong.</p><p> </p><p>By December 2014, contracts to the value of £177 million had been agreed, to deliver over 2,000 homes. Almost 600 homes had already started on five schemes, with 129 completions at this very early stage in the programme.</p><p> </p><p>By March 2015, we estimate contracts will have been agreed up to the value of £819 million, delivering over 8,300 homes, followed by up to a further £246 million worth of deals (for over 2,100 homes) to be agreed during 2015.</p><p><br><br>We estimate that the Fund will this year be committed in full, and I can confirm that the programme is on course to meet our 10,000 homes target.</p><p> </p><p>The hon. Member will no doubt try to nit-pick with the success of this novel and ground-breaking scheme, given the Labour Party seeks to oppose every single scheme we have to build new homes. But I would observe that the Labour Party’s plans for excessive red tape and new regulation on the private rented sector would scare away institutional investment and cut spending on new build rented homes.</p> answering member constituency Great Yarmouth answering member printed Brandon Lewis grouped question UIN 217220 question first answered 23/01/2015 14:03:35 answering member 4009 label Biography information for Sir Brandon Lewis
	tabling member	4077 label Biography information for Emma Reynolds

167979

	registered interest
	date	04/12/2014
	answering body	Department for Communities and Local Government
	answering dept id	7
	answering dept short name	Communities and Local Government
	answering dept sort name	Communities and Local Government
	hansard heading	Private Rented Housing: Construction
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Communities and Local Government, how many (a) developments and (b) homes have (i) been started and (ii) been completed under the Build to Rent scheme since the start of that scheme.
	tabling member constituency	Wolverhampton North East
	tabling member printed	Emma Reynolds
	uin	217220
	answer	answer is ministerial correction date of answer 23/01/2015 answer text <p>The Build to Rent fund provides development finance to support the creation of a purpose-built private rented sector, backed by institutional investment. The fund is market- led and the response has been strong.</p><p> </p><p>By December 2014, contracts to the value of £177 million had been agreed, to deliver over 2,000 homes. Almost 600 homes had already started on five schemes, with 129 completions at this very early stage in the programme.</p><p> </p><p>By March 2015, we estimate contracts will have been agreed up to the value of £819 million, delivering over 8,300 homes, followed by up to a further £246 million worth of deals (for over 2,100 homes) to be agreed during 2015.</p><p><br><br>We estimate that the Fund will this year be committed in full, and I can confirm that the programme is on course to meet our 10,000 homes target.</p><p> </p><p>The hon. Member will no doubt try to nit-pick with the success of this novel and ground-breaking scheme, given the Labour Party seeks to oppose every single scheme we have to build new homes. But I would observe that the Labour Party’s plans for excessive red tape and new regulation on the private rented sector would scare away institutional investment and cut spending on new build rented homes.</p> answering member constituency Great Yarmouth answering member printed Brandon Lewis grouped question UIN 217219 question first answered 23/01/2015 14:03:35 answering member 4009 label Biography information for Sir Brandon Lewis
	tabling member	4077 label Biography information for Emma Reynolds

167980

	registered interest
	date	04/12/2014
	answering body	Department for Communities and Local Government
	answering dept id	7
	answering dept short name	Communities and Local Government
	answering dept sort name	Communities and Local Government
	hansard heading	Housing: Construction
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Communities and Local Government, how much was spent on the Get Britain Building Scheme in (a) 2011, (b) 2012, (c) 2013 and (d) 2014.
	tabling member constituency	Wolverhampton North East
	tabling member printed	Emma Reynolds
	uin	217183
	answer	answer is ministerial correction date of answer 11/12/2014 answer text <p>Get Britain Building is a three-year scheme to provide development finance to unlock stalled sites.</p><p> </p><p>As explained to the hon. Member in the answer to her of 13 March 2014, <em>Official Report</em>, Column 312W, the prospectus for the first round of Get Britain Building programme was published on 22 December 2011. The prospectus for the second round was published on 21 June 2012. In both cases, the expressions of interest received after each prospectus were followed by due diligence and a contract agreement process. In that light, there was no expenditure in 2011, £29 million in 2012, £281 million in 2013 and (up to November 2014) £132 million in 2014.</p><p> </p><p>Across financial years, we anticipate expenditure of £159 million in 2012-13, £213 million in 2013-14 and £125 million in 2014-15. The programme should come in slightly under the budget headroom due to improving market conditions.</p><p> </p><p>Each contract agreement includes arrangements for the financial drawdowns under the facility, and there may be a number of drawdowns as a site is built out. Since interest is payable on the loans, contractors drawdown the agreed development finance as needed. This explains why the expenditure is incurred over the course of the programme rather than up front; however, the existence of the finance facility in itself gives developers the confidence and financial security to get building again.</p> answering member constituency Great Yarmouth answering member printed Brandon Lewis question first answered 11/12/2014 17:05:39 answering member 4009 label Biography information for Sir Brandon Lewis
	tabling member	4077 label Biography information for Emma Reynolds