A foot on the ladder: low cost home ownership assistance, nineteenth report of session 2006-07, report, together with formal minutes, oral and written evidence
The Stationery Office, Mar 27, 2007 - Architecture - 46 pages
An imbalance between the demand and supply of housing has resulted in recent years in increasing numbers of people finding it difficult to afford to buy their own home, with only 36 per cent of new households being able to afford to buy in 2005 compared to 46 per cent in the late 1980s. In 2004-05, the Government spent almost £470 million on two financial assistance schemes (shared ownership and interest-free equity loans through the Homebuy scheme) designed to extend the opportunity of home ownership to those who would not otherwise be able to afford it, including many key public sector workers. Following on from a NAO report on this topic (HCP 1086, session 2005-06; ISBN 9780102939347) published in July 2006, the Committee's report examines how better targeting and further refining of the low cost home ownership assistance programme could improve efficiency and help more people.
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63 million affordable housing sector assessment Austin Mitchell borrowing Build HomeBuy C&AG's Report Chairman clawback commercial lenders Committee cost home ownership council house Curry Davidson demand Department for Communities Dunne employers equity loan equity stake ﬁgure ﬁnancial ﬁnd ﬁrst time buyers ﬁve fund Govemment’s Government Helen Goodman HM Treasury home ownership assistance home ownership properties HomeBuy Agents Housden house prices households housing associations Housing Corporation housing market housing need housing waiting lists Ian Davidson impact increase Key Worker Living Khan low cost home low-cost home ownership Market HomeBuy product Ministers Mitchell mortgage MP Labour Open Market HomeBuy priority need programme purchase question recruitment and retention recycled reﬂect regional housing boards Registered Social Landlords Richard Bacon right to buy RSLs scheme shared ownership social housing tenants social rented housing social tenants speciﬁc Starter Home Initiative subsidy targeting west midlands Williams