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.’

SIGN UP
For your free daily news bulletin
Highways jobs

Member Enquiries Officer

Essex County Council
£24735 - £26800 per annum
Member Enquiries OfficerFixed Term - maternity cover for at least 9 months, from early May 2021Full Time, 37 hours per weekUp to £26,800 per annumLoca England, Essex, Chelmsford
Recuriter: Essex County Council

Democratic Services Officer

Essex County Council
£24735 - £28845 per annum
Democratic Services OfficerPermanentFull Time, 37 hours per weekUp to £28,845 per annumLocation
Recuriter: Essex County Council

Part Time Residential Worker - The Maples

Essex County Council
£20604 - £26801 per annum
Part Time Residential Worker - The MaplesPermanent, Part Time£20,604 to £26,801 per annum pro rataLocation
Recuriter: Essex County Council

Senior Workforce Development Lead

Essex County Council
£30906 - £39168 per annum
Job Purpose Essex County Council (ECC) is achieving transformational change across Adult Social Care and Children and Families Services, underpinned b England, Essex, Chelmsford
Recuriter: Essex County Council

Assistant Director Environment

Doncaster Council
£95,438
We are looking for a strategic and resilient leader to become our next Assistant Director of Environment here in Doncaster. Doncaster, South Yorkshire
Recuriter: Doncaster Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how how flexible workspaces can lead the way in regeneration for local authorities, Why local authority intervention is key to successful urban regeneration schemes and if the Government’s challenge of embracing beauty is an opportunity for communities.

The March issue also takes a closer look at Blackburn with Darwen Council's first digital health hub to help people gain control over health and care services.

Register for your free digital issue