Housing: Market Stability

Lord Richard Excerpts

Monday 23rd May 2011 Lords Chamber

[Baroness Hanham]

My Lords, I wholly agree with what the noble Lord has said. It is a sad fact that there are many empty properties which can or should be brought back into use. We have already allocated money to this and within the new homes money we will identify such empty properties. For that, £100 million is already available. It is not occurring just in the north but across the country. We are anxious too to make sure that homes are brought up a decent standard. In areas—particularly in the north, I guess—where traditionally a lot of houses have been left empty, it is perfectly right that those are brought back into use rather than just demolished or left.

[Lord Richard]

Are the Government satisfied at the readiness of the banks to lend money for housing development?

[Baroness Hanham]

My Lords, what the banks do is up to the banks. We will be very pleased when there is a release of money for mortgages to help.