Saturday, November 10, 2012

Clutching at straws

Almost half of first-time buyers are forced to opt for affordable housing schemes

Forty-six per cent of those buying a home for the first time are turning to shared ownership or shared equity. One in four of those that were considering shared ownership and shared equity schemes said it was their only option if they were to get a foot on the property ladder, and that without the schemes they would have no hope of being accepted for a mortgage on the open market. A further 24pc said the schemes would allow or had allowed them to purchase a home in an area that would otherwise have been out of their reach financially.

Posted by drewster @ 10:20 AM (1135 views)
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3 thoughts on “Clutching at straws

  • Alessandro London says:

    The sad truth is that shared ownership is just a niche market for single medium/high earners (40k +) who cannot afford to buy in inner London. Affordable shoebox flat for rich singles.

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  • “The Government launched an £80 billion scheme to kick-start lending at the start of August, which has improved mortgage availability.”

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  • A wiseman once said “Slavery is not the lowest of humanity; a free man who vote to be slavered is”.

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