Sunday 1 April 2012

Future home dreams shattered in the traps of shared-ownership - Property - House & Home - The Independent

Future home dreams shattered in the traps of shared-ownership - Property - House & Home - The Independent
Shared ownership deals allow vendors to buy a share of a new-build property with a smaller mortgage and therefore smaller deposit, while paying rent on the share they don't own.
The scheme's popularity has boomed in recent years as high house prices, strict mortgage lending and the need for chunky deposits make it difficult for young first timers to buy a home outright.
But, after using the ......... 

First-time buyers desperate to become homeowners have complained of being locked into part-buy part-rent schemes with little hope of selling on.

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