§ Mr. McGradyTo ask the Secretary of State for Northern Ireland what steps he has taken to assist first-time buyers in Northern Ireland; and if he will make a statement. [121729]
§ Mr. SpellarA number of steps have been taken to assist first time buyers in Northern Ireland. The housing executive's house sales scheme has enabled over 100,000 tenants to become home owners and sales of housing executive homes currently account for over one third of all first time buyer transactions in Northern Ireland. The Department for Social Development also provides funding for the Northern Ireland Co-Ownership Housing Association which, through its equity sharing scheme, gives those on low incomes an opportunity to gain a foothold on the home ownership ladder and has, since its inception in 1978, helped over 17,500 participants to become home owners on an equity sharing basis, with over 13,000 of these eventually moving to full home ownership.
§ Mr. McGradyTo ask the Secretary of State for Northern Ireland what plans he has to introduce a purchaser's pack for potential first-time house buyers and sellers in Northern Ireland.[121731]
§ Mr. SpellarI have no plans at present to introduce a purchaser's pack in Northern Ireland.
The proposal to impose a condition on house vendors to produce a home information pack for prospective purchasers is aimed at addressing specific problems in England and Wales by speeding up the home buying and selling process and making it more transparent and certain. Such problems are not prevalent in Northern 714W Ireland, where many measures aimed at speeding up the process have already been implemented and further proposals continue to be developed. I will, however, continue to monitor developments as regards the home information pack with a view to determining whether there may be merit, at some time in the future, in introducing similar measures in Northern Ireland.