5
May
Homebuyers look at shared-ownership options
A growing number of homebuyers are looking into the possibility of
shared-ownership mortgages, it has been noted.
In a statement, a spokesman for the National Housing Federation
(NHF) suggested that this form of home loan is proving popular in
the current tough economic climate.
Despite this focus on shared ownership and the fact the interest
rate remains at the historically low level of 0.5 per cent, many
people are finding it difficult to gain access to the required
finance.
The NHF representative said that the group has been lobbying the
government to relax lending criteria for what it sees as the good
of the market, adding that there is hope politicians will act in
the near future.
Explaining the issue further, the property expert remarked: "The
problem has been that a lot of the lenders view shared-ownership
properties as a higher risk than open market sale
properties."
