§ Mr. SoleyTo ask the Secretary of State for Scotland what has been the total cost to date of setting up, publicising and administering the flexi-ownership or rents into mortgage schemes in Scotland; and how many tenants have so far acquired part-ownership of their homes under this scheme.
§ Lord James Douglas-Hamilton[holding answer 3 February 1992]: Since the introduction of the pilot rent-to-mortgage scheme, the cost of setting up, publicising and administering the scheme is estimated at around £788,000. A total of 264 sales had been completed by the end of 1991, resulting in additional receipts of £2,467,000. Tenants purchasing under the scheme become owners with full title to the property from the completion of the sale.