First time buyers earning less than 60K eligible for free shared ownership scheme.

In another attempt to kick start the first time buyer market. Hazel Blears on behalf of the Govt, and a number of housebuilders, have gotten together to provide a scheme whereby a qualifying individual can purchase a property at 70% of valuation. They do not have to pay for the other 30% for up to 5 years. Traditional shared ownership schemes would incur a rental elemant for the 30% – so it’s yet again a positive step forward but will not be helping tens of thousands of people, but it will help some all the same.

Builders participating are yet to be announced.

Trumpo’s still waiting for the positive steps that will really will boost the market – EMERGENCY SUBSTANTIVE RATE CUTS!!!!!!

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