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Mortgages: Government Assistance

Volume 498: debated on Wednesday 28 October 2009

To ask the Secretary of State for Communities and Local Government what plans he has to provide mortgage help to those who are eligible for shared ownership housing but who cannot find appropriate funding. (296161)

There are 18 lenders who currently offer mortgages to shared ownership purchasers. The Government have provided help to potential shared ownership purchasers by introducing Rent to HomeBuy. This enables potential purchasers to benefit from an affordable rent for up to five years, enabling them to save for a deposit to purchase a share during or at the end of that period.