Mr. Paul Benson:

We have given local authorities comfort that there is a Government commitment to second-hand acquisitions and the tenant in situ scheme, and that there will be funding in 2026, 2027 and 2028. It is natural if you begin discussions with a landlord at this time of year or in the coming weeks and months that the conveyancing will not happen in 2025. It could be 2026 before that conveyancing completes and funding is required. The issue of funding is only one aspect of it. If they want to pursue the option of the acquisition of a property, local authorities must be prepared to enter that acquisition with the expectation that it will take three, four, six or nine months, in some cases, to complete conveyance and the funding will not be required in 2025. It will be 2026 before it is required and there will be funding available to meet the requirement.