Written question WQ93721
- Asked by
- Jane DoddsLib Dem
- To be answered by
- Cabinet Secretary for Housing, Local Government and Planning
- Tabled
- Due
- Answered
- Time to answer
- 2 days
Question
Will the Cabinet Secretary outline what plans there are for the Welsh Building Safety Developer Loan Scheme funds should they remain unused, given there have been no applications or inquiries from developers to date?
Answer
Answered by Cabinet Secretary for Housing, Local Government and Planning
The Developer Loan Scheme was established to ensure developers could progress remediation of buildings affected by fire safety issues as swiftly as possible, by removing any potential barriers related to a lack of funds.
The development of the scheme included consideration of the impact of having to undertake works in both England and Wales, and how this might affect a developer’s ability to deliver, and consideration of the impact of increased interest rates in relation to the availability of loan funding.
The loan scheme is reviewed on a regular basis to ensure the funding available is appropriate to the needs of the scheme, and any other developers coming into the Programme have the opportunity to access funding. Should the Developer Loan Scheme remain unused, the scheme will be closed.