§ Rev. Martin SmythTo ask the Secretary of State for Northern Ireland how many starter home initiative schemes have begun in Northern Ireland. [150605]
§ Mr. SpellarA starter home initiative, the Co-ownership scheme, which is part funded by the Department for Social Development, has been in 465W operation since 1978. The aim of the scheme is to provide assistance to those on marginal incomes, and who would not be eligible to obtain a full mortgage, to allow them to become homeowners. Since its inception the scheme has enabled 17,500 participants to gain a foothold on the property ladder through its equity-sharing scheme, over 13,000 of whom eventually moved to full home ownership.