Mortgage lenders should subsidise first-time buyers to buy low-cost homes in the private sector, according to the chair of financiers’ body the Council of Mortgage Lenders.
Anne Gunther said people who do not get assistance under existing schemes should be able to borrow their deposit.

She said last Friday: “Helping the private sector to deliver more low-cost homeownership would make a big difference to many thousands of frustrated, would-be first-time buyers.

“Fully repayable equity loans could be index-linked to house price inflation – perfectly appropriate to ensure people are primarily helped into the ‘nesting’ rather than the ‘investing’ aspect of homeownership.”

At the moment, 4500 people get help through low-cost homeownership schemes.

Source

Housing Today