A multibillion-pound programme to build shared ownership
properties in England is needed if 1.8 million "forgotten families"
are to ever have their own homes, housing charity Shelter said. It said three-quarters of households earning
£20,000 to £40,000 were now priced out of buying a family-sized home and a lack
of social housing meant they faced the prospect of years of private renting.
Even when the second part of the government's Help to Buy scheme goes live in
2014, offering a taxpayer-backed guarantee to encourage lenders to offer 95%
mortgages, Shelter said three in four families would still be unable to raise
enough money to buy an average three-bedroom home in their area. Read more on
the Guardian website.
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