§ Mr. RedwoodTo ask the Secretary of State for the Environment, Transport and the Regions what plans he has for schemes enabling tenants of social housing to convert their rents to mortgages. [126793]
§ Mr. RaynsfordThere is already such a scheme called "Rent to Mortgage". It was introduced by the previous administration in 1993 and was publicised at a cost of 13W £414,000. Yet to date there have only been 51 sales. INTERNATIONAL DEVELOPMENT Because of this lack of demand there are no plans to extend or expand such schemes.