Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Housing, Communities and Local Government, what assessment he has made of the effect of unsafe cladding on the value of flats bought under the Help to Buy scheme for those seeking to (a) sell and (b) staircase ownership on those properties.

The Government has announced a globally unprecedented investment in building safety. Hundreds of thousands of leaseholders will be protected from the cost of replacing unsafe cladding on their homes as part of this Government's five-point plan to provide reassurance to homeowners and build confidence to the housing market.

Information on the number of Help to Buy equity loan properties with ACM cladding can be found in the NAO’s report entitled Investigation into remediating dangerous cladding on high‑rise buildings, which is available at https://www.nao.org.uk/wp-content/uploads/2020/06/Investigation-into-remediating-dangerous-cladding-on-high-rise-buildings.pdf. There are many factors that influence the value of a property and we are not able to confirm whether a reduced value is affected by cladding or not. The redemption value of all Help to Buy: Equity Loans is the market value of the property at the time.