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<p>Grant Shapps:</p><p>Since the commencement of these schemes to the end of the 2009-10 financial year there have been 384 Social HomeBuy completions and 3,133 Rent to HomeBuy completions. The figures for Rent to HomeBuy reflect the point at which the unit was completed and not when the tenant rented the property or the point at which they took up their opportunity to purchase. Data are not collected centrally on when the opportunity to purchase under Rent to Homebuy is taken up. To place these figures in context, when Social HomeBuy was launched by the previous Administration, the underlying analysis was based on an assumption that it would help an extra 5,000 households a year into homeownership (ODPM, "Homebuy-expanding the opportunity to own, April 2005", para 1.4). While there were no formal targets for Rent to Homebuy, up to �313 million of funding had been allocated to the scheme for 2008 to 2011 under the last Administration, according to the answer to my question of 2 March 2010, Official Report, columns 1127-1128W.</p><p>[108473]</p> |