William Eichler 04 April 2019

Homeownership schemes failing ‘less well off’

Homeownership schemes failing ‘less well off’ image

The Government’s homeownership schemes are failing those on low and middle incomes, according to a provider of affordable rent to buy homes.

Rentplus calculates that the average household income of those benefitting from the Government’s Help to Buy scheme is £52,000.

This is well above the income of many, including key workers such as nurses who start on £23,000.

One of the biggest barriers to homeownership is the deposit.

Steve Collins, the chief executive of Rentplus explains: ‘The majority of Help to Buy beneficiaries take advantage of being able to put down a minimum 5% deposit but this still requires an average deposit of over £12,000.’

‘For most of those on average or below average wages, this is unaffordable.

‘The problem is that many people paying rent each month have little money left to save towards a deposit and the Government schemes don’t address this.’

PWLB hike: A rise too far? image

PWLB hike: A rise too far?

What impact will the increase to the Public Works Loan Board rate have on councils’ housing and other capital schemes? Neil Merrick investigates.
SIGN UP
For your free daily news bulletin
Highways jobs

Head of HR/OD

Babergh & Mid Suffolk
£60,000 circa
The role will involve working closely with the Senior Leadership Team and Chief Executive to lead our People Strategy and... Ipswich, Suffolk
Recuriter: Babergh & Mid Suffolk

Senior Systems Officer Case Management - Northallerton

North Yorkshire County Council
£32,029 - £34,788 per annum
Do you put quality of service and customer care at the heart of what your team delivers? Northallerton, North Yorkshire
Recuriter: North Yorkshire County Council

Residential Assistant - Magdalen Close

Essex County Council
£17675 - £20200 per annum
This is a part time role for 30 hours a week and these hours can be worked across day or night shifts for which the appropriate FRA will be applied. E England, Essex, Clacton-On-Sea
Recuriter: Essex County Council

Senior Commissioning Officer - Commissioning Delivery Team

Essex County Council
£30300 - £34340 per annum
Essex County Council (ECC) is one of the largest and most dynamic local authorities in the UK, serving a population of 2 million residents, and has a England, Essex, Chelmsford
Recuriter: Essex County Council

Registration Officer

London Borough of Richmond upon Thames and London Borough of Wandsworth
£25,327 - £36,036 depending on skills
Are you seeking working arrangements that enhance your work-life balance? London (Greater)
Recuriter: London Borough of Richmond upon Thames and London Borough of Wandsworth

Local Government News

Latest issue - Local Goverrnemnt News

This issue of Local Government News explores how councils can tackle modern slavery and trafficking in their supply chains, finds out more about Cambridge's first cohousing scheme and the launch of a new project to build a shared service pattern library for local government.

This issue also contains a special focus on children's services and how councils are protecting children following local safeguarding children boards being abolished.

Register for your free magazine