Property News · August 24, 2015

'Affordable' shared ownership flat in Hackney on the market for £1m


Price of home means anyone with a household income of less than £77,000 is unlikely to get a mortgageA shared ownership flat valued at more than £1m has gone on sale in east London, in another sign of London’s growing affordability problem for would-be homebuyers.Shared ownership, offered through housing associations, is designed to help people on low incomes get on the housing ladder by offering them the chance to buy a stake in a property which they can increase over time. The buyer also has to pay rent on the remainder of the property that is not mortgaged. Continue reading…

Source : theguardian.com
Read more…‘Affordable’ shared ownership flat in Hackney on the market for £1m

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