1st January 2016
NEWS: Good to share
New year, new deal. The Government has announced that it is relaxing the rules of shared ownership — homes which people can part-buy and part-rent — so that, from April, those earning below £80,000 in England (£90,000 in London) will be eligible for the scheme. “By relaxing some of the existing restrictions, a potential 175,000 aspiring homeowners will be given the opportunity to own their own home, as well as allowing existing shared ownership homeowners the opportunity to step up the ladder,” says Mark Hayward, managing director, National Association of Estate Agents. “However, as with all housing promises, they can’t come quick, or big enough.”
The Government also announced that it is imposing a five-year limit on new tenancies for council houses, meaning that tenants will no longer have the right to live in their council homes for life.