Feedback wanted on shared equity scheme

Sat, 22 Mar 2014

People are being asked to share their views on the prospect of government introducing a shared equity scheme.

Shared equity helps people wishing to purchase a home but who cannot afford the full price.

It offers the chance to buy less than a 100 per cent stake in the property, with the remaining amount to be paid at a later date.

If introduced it would replace the current Housing Purchase Assistance Scheme, which is set to expire in July.

To date that initiative has helped with the purchase of over 1,375 homes.

Rushen MHK Laurence Skelly raised the idea of the scheme last year: