5 May

Homebuyers look at shared-ownership options

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."
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