John Healey:
To ask the Secretary of State for Housing, Communities and Local Government,
how many and what proportion of Help to Buy, Equity Loan customers are in
arrears.
Esther McVey:
At end November 2019 1,983 Help to Buy customers or 5.8 per cent of the total
due to be paying interest fees, were in arrears. The large majority of
customers in arrears are only one or two payments behind and this debt very
largely reflects short-term administrative issues with direct debit set-up at
the start of the interest fee paying period. Total interest fee arrears of
£189,000 at end of November 2019 represent 2.7 per cent of total amounts
charged to customer accounts.
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