Magazine article Public Finance

Government to Expand Open Market Homebuy Scheme

Magazine article Public Finance

Government to Expand Open Market Homebuy Scheme

Article excerpt

The Housing Corporation is to spend up to £200m purchasing homes on the open market as part of a major expansion of a government scheme for first-time buyers.

Some of the homes will be offered for sale through the Homebuy scheme with the remainder used by housing associations for social renting.

Announcing the extension of Open Market Homebuy to more households, housing minister Caroline Flint - following Gordon Browns Queen's Speech preview on May 14 - said the corporation and social landlords would work closely together to ensure that properties were purchased from developers at competitive prices.

In future, all first-time buyers with a household income of ?60,000 or less will be eligible for the scheme, which provides equity loans of up to half of the purchase price to back up regular mortgages. Previously it was targeted at key workers and other priority groups. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.