Home ownership plan unveiled
The Prime Minister's Home Ownership Taskforce is believed to have finalised proposals for an equity-sharing home financing scheme between homebuyers and financial institutions. Lenders and other financial providers including specialist managed funds would make a “silent” investment of up to 30 per cent in the co-ownership of residential properties with homebuyers.
The taskforce says that buying a house should not be an “all or nothing” venture, with families tying up a large portion of their wealth in “illiquid assets”. The proposals would also make it easier for young people to purchase their own homes and escape the rent trap.