The Pros And Cons Of New Home Ownership Schemes

With no end in sight to thehousing crisis, investors are increasingly looking at ways to monetise Generation Rent with a series of alternative home ownership schemes funded by the private sector. The latest offering is a “gradual homeownership” proposition launched by Wayhome. Unlike traditional shared ownership models Wayhome is backed by pension funds and teams up with buyers to purchase resale properties costing between £200,000 and £500,000. The buyers must have a household income of at least £30,000 and be able to put down a five per cent deposit. For a property worth £500,000 this would mean an initial £25,000. Read more on the Evening Standard website.

https://www.standard.co.uk/homesandproperty/buying-mortgages/pros-and-cons-new-home-ownership-schemes-generation-rent-b951070.html