Dick Spring
Question:315 Mr. Spring asked the Minister for the Environment if he will outline the assistance which is available to tenants and tenant purchasers of local authority houses who wish to purchase private houses.
Written Answers. - Grant Schemes for Local Authority Tenants.
Tenants and tenant purchasers, who surrender their house to the local authority, are entitled to the £2,000 grant for first-time purchasers where they are providing new houses. Publicly funded loans, details set out below, are also available to such persons purchasing private houses, if they are unable to obtain suitable mortgage finance from the commercial lending agencies. The usual income limit for such loans does not apply in these cases.
Loans Available
|
Repayment Option |
Loan Maxima (Special Category) |
|
1. Annuity |
£25,000 |
|
2. Convertible |
£27,000 |
|
3. Income Related |
£27,000 |