Issue details

Local Authority Mortgage Scheme - 12/01841

 

 

To agree to provide district councils with a conditional loan to support partnership arrangements to underwrite a local authority backed mortgage assistance scheme for first time buyers

Decision type: Key

Decision status: Implemented

Decision due: 15 May 2012 by Cabinet Member for Finance & Business Support

Department: Strategic & Corporate Services

Contact: Dave Shipton, Head of Finance Policy, Planning and Strategy Email: dave.shipton@kent.gov.uk Tel: 01622 694597, Brian Horton, Chair - Kent Housing Group Email: brian@hortonstrategic.com.

Consultation process

N/a

Consultees

Informing Only

Who and when?

N/A

 

Who is it necessary to consult?

N/A

 

Has the matter already been discussed by a Policy, Overview and Scrutiny Committee?:

N/A

Is the matter referred to in your Business Plan or Medium Term Capital Programme?

Yes

 

Closing date for consultation/receiving comments:

N/A

 

Financial implications: Brian Horton, Strategic Housing Advisor, 01622221947, brian.horton@kent.gov.uk Dave Shipton, Acting Head of Financial Strategy, 01622 694597 Dave.shipton@kent.gov.uk

Legal implications: 12/01841

Equalities implications: The scheme is intended to provide up to £1m per district (with the options for more in certain circumstances) for districts to invest in order to take advantage of cash backed indemnity schemes offered by mortgage providers. Approval of indemnified mortgages will be determined by the mortgage lender but are likely to apply to more than one electoral district

Documents