§ Jeremy CorbynTo ask the Secretary of State for Transport, Local Government and the Regions what his estimate is of the comparative costs of(a) loans entered into by registered social landlords for capital developments and (b) the equivalent cost to local authorities; and if he will make a statement. [55626]
§ Ms KeebleInformation to make a direct comparison of the cost of loans to registered social landlords (RSLs) and local authorities for housing investment is not held by my Department.
RSLs are private sector organisations who borrow directly from banks, building societies and other financial institutions. Loan costs will vary according to the RSL taking the loan, the type of loan and when it is taken out.
Borrowing for housing investment by local authorities is generally from the Public Works Loans Board. Loan costs will also vary due to the type of loan, when it is taken out and the local authority involved. The cost of servicing the loans is met through housing revenue account subsidy.