Saturday, November 10, 2012
Clutching at straws
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.