29 Sep

Minister in visit to back shared equity

Minister in visit to back shared equity

Housing minister Caroline Flint has paid a visit to a new development that operates under a government scheme to encourage more first-time buyers onto the ladder.

Ms Flint, who has been in Manchester for the Labour Party conference, visited the Brinnington area of nearby Stockport to see one of the schemes in action, the Stockport Times reports.

The Truro Road project in the district works by allowing people to take a 50 per cent share in two or three-bedroom homes for £57,000 plus £100 a month rent.

Ms Flint commented: "Schemes like this are an excellent way for people to own their own homes, even in difficult times."

Peter Glover, the director of the company behind the scheme Equity Housing, said the company has successfully sold 23 properties on the site with 12 more reserved.

Last week saw the opening of the Glaisher Court affordable housing development in Lewisham, south London, 24 Dash reported.

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