§ Mr. PicklesTo ask the Secretary of State for the Environment, Transport and the Regions what is(a) the 466W value of borrowing by housing associations to finance investments in housing stock and (b) the average length of the term for repayment. [109545]
§ Mr. MullinAccording to information from the Housing Corporation at 31 March 1998 committed loan facilities of £13.5 billion had been arranged by housing associations and other registered social landlords, of which £10.6 billion had been drawndown. Whilst the vast majority of this funding was to finance the purchase, development or improvement of housing stock, it is not possible to identify separately that element which was raised to meet other costs.
The average length of term for repayment is not available. Typically long term funding may be for periods of 25 to 35 years. Short-term funding may be up to five years.