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

To ask the Secretary of State for Housing, Communities and Local Government, what steps he is taking to help leaseholders secure a low interest rate on loans taken to cover fire safety costs.

The Government has announced a globally unprecedented investment in building safety and hundreds of thousands of leaseholders will be protected from the cost of remediating unsafe cladding from their homes. Lower-rise buildings between 11 and 18 metres will gain new protection from the costs of remediating dangerous cladding through a long-term, low interest, government backed financing scheme.

The Government is conscious of the need to make any financing scheme affordable for leaseholders. That is why we have said that the financing scheme will have a £50 a month cap. Now that the financing solution has been announced, we will publish more details on how it will work as soon as is feasible.