The National Housing Federation (NHF) has today embraced the Open Market HomeBuy scheme, a government created shared equity mortgage . The new loan, according to the NHF, will help many first-time buyers to afford their own home .
The housing federation went one step further however, cautioning that the government would need to increase their funding of new build houses. Without affordable homes, they said, the housing crisis will continue. David Orr, the chief executive of the NHF, confirmed this:
"We're always pleased to see the Government give people who couldn't otherwise afford it a helping hand onto the property ladder. That's why housing associations are proud to act as HomeBuy Agents and process applications. By involving mortgage lenders, we can stretch funding for low-cost home-ownership further so more people can share the benefits. However, subsidising people to buy existing properties is no substitute for building the new affordable homes we so desperately need."
David Orr continued: "If we don't match this with increased housebuilding, we risk inflating the housing market further. Our research shows that the average house price is set to soar to £300,000 by 2011, becoming unaffordable to still more potential first-time buyers. The Government must commit to providing investment in housing associations to enable them to build the 80,000 new affordable homes a year to defuse England's housing timebomb."
NHF embrace shared-equity mortgages
Mortgage Quote Line
0845 108 0505
NHF embrace shared-equity mortgages
Tue, 03 Oct 2006
Recommended links
Mortgage enquiry formTop ten results
Shared equity mortgages
First-time buyers introduction
Young people in London face uphill mortgage climb
Interest only mortgage better than renting
Newcastle sets out to help first-time buyers
Change in first-time buyers attributed to new mortgage products
New tracker deal for first-time buyers
Fewer first-time buyers opt for interest-only mortgages, study shows
First-time buyers already burdened by debt, suggests report
Competition on increase for first-time buyers
HSBC creates advice centre for first-time buyers
Fifty-year mortgages could become a reality for first-time buyers
Return of the first-time buyers, state experts
Many first-time buyers can't find a mortgage, study shows
First-time buyers consider abstaining from alcohol, mortgage lender reports
First-time buyers urged to be aware of mortgage market
Improved mortgage and loan deal for first-time buyers
Affordability to remain poor for first-time buyers
50-year mortgages for first-time buyers
First-time buyers need help, says mortgage lender
First-time buyers stuck until Olympics, says CIS
Long-haul mortgage deposit for first-time buyers
Fixed mortgages better for first-time buyers, expert says
Scottish Widows aims to help first-time buyers
First-time buyers warned over insurance
Buy-to-let mortgage market not deterring first-time buyers, says expert
First-time buyers still paying stamp duty
First-time buyers increasingly rely on parents' money
Inflation for first-time buyers rising, study shows
Fixed-rate mortgages attract first-time buyers
First-time buyers opt for shared mortgage, study shows
Potential first-time buyers caught in a trap
More first-time buyers paying stamp duty, figures show
New Britannia mortgage for first-time buyers
First-time buyers may head overseas to fund mortgage aspirations
Mortgages for first-time buyers falling
First-time buyers struggle with higher lending charges, says mortgage provider
First-time buyers need greater flexibility, says CML
Mortgage affordability harder for first-time buyers, expert claims
Half of first-time buyers can't find a mortgage, study shows
Liberate first-time buyers from stamp duty, mortgage lender says
Go for 95%, first-time buyers told
Harder for first-time buyers to find a mortgage in 2007, expert claims
Data indicates 85% of first-time buyers choose fixed-rate mortgages
First-time buyers must be helped in NI, experts say
First-time buyers taking mortgages later
Yorkshire a hotspot for first-time buyers, study shows
First-time buyers' struggles highlighted
100 per cent mortgages for student first-time buyers
First-time buyers see mortgages more important than marriage, suggests research
Potential first-time buyers struggling, mortgage lender finds
First-time buyers making comeback
First-time buyers get advice from mortgage lender
Expense of first-time buyers Government-backed mortgages in question
Innovation to help first-time buyers, expert claims
First-time buyers get parental help, figures show
First-time buyers still struggling, survey says
More discussion of fifty-year mortgages for first-time buyers
First-time buyers the lifeblood of mortgage industry, expert claims
New mortgage options to help first-time buyers, expert states
Britannia mortgage for first-time buyers
First-time buyers could have a happy 2006
Income multiples good news for first-time buyers, expert claims
New Abbey website for first-time buyers
50 year mortgages and first-time buyers
First-time buyers turning to houseboats
First-time buyers need £35k deposit, study shows
First-time buyers face price inflation, study shows
First-time buyers seem to shun advice
First-time buyers face big squeeze, study shows
Forces first-time buyers to receive boost
First-time buyers and 50-year mortgages
Home information packs may benefit first-time buyers, experts suggest
HomeBuy scheme to help first-time buyers, states NHF
First-time buyers six months from disaster, expert claims
First-time buyers forced to gazunder, expert claims
Mortgage group warning for first-time buyers
New CML NI director plans to aid first-time buyers
First-time buyers could benefit from interest-only, says mortgage analyst
Parental help needed to become first-time buyers, CML survey shows
Scottish first-time buyers forced out of cities, says expert
| mortgages news |
|---|
| Yorkshire Building Society makes mortgage more accessible - Thu, 02 Sep 2010 |
| Lloyds TSB launches new fixed-rate mortgage - Thu, 02 Sep 2010 |
| Skipton launches new mortgage range - Wed, 01 Sep 2010 |
| More News |
Mortgage Rates by Lender 
Worried about Mortgage Repayments?
- Join our petition to Government to bail out burdened individuals, not just banks.
Free Mortgage Quote
Mortgages in Scotland
Equity Release
Switching Mortgages
Home Reversion Plans
Commercial Mortgages Arrears & CCJs?
Remortgages- Sub prime mortgages
- Arrears, CCJs
- Self certification
- Debt consolidation
Protect Your Mortgage