Home ownership

Gordon Brown has set out plans for a shared ownership scheme to help 100,000 couples get on to the first rung of the housing ladder.

The proposals would mean that first-time buyers would only have to raise the finance to cover as little has half the cost of their property.

With the co-operation of mortgage lenders, the plans will see the rest of the equity shared between the government and the bank or building society.

Stakeholder Response: British Property Federation

 

Chris Carter, head of parliamentary affairs, said: "Whilst the British Property Federation welcomes the government’s announcement to introduce measures to address the undersupply of housing, we urge the government to include in its housing policies measures to promote the expansion of the private rented sector which has been overlooked in the past.