Homeowners 42 Times More Wealthy Than Social Housing Tenants

Austerity policies implemented over the past decade have intensified the gap between those living in social housing and those in other tenures. Six in 10 social tenants are in the bottom 10% of the wealth spectrum, with many seeing a fall in wealth in recent years, while the wealth of the richest homeowners has soared. Less than one in five social tenants have any savings, compared to two-thirds of homeowners and one-third of private renters. Social tenants who do have savings have far less than households in other tenures. Three-quarters of social tenants are ranked in the bottom 40% of the national income spectrum, with almost half placed in the poorest 20%. Read more on Inside Housing.

https://www.insidehousing.co.uk/news/homeowners-42-times-more-wealthy-than-social-housing-tenants-inequality-report-finds-61946?utm_source=Ocean%20Media%20Group&utm_medium=email&utm_campaign=10651857_iH-daily-19.6.19-%20CB

Critics Say Help To Buy Helping Those Who Don’t Need Help

Nearly 7,000 households with incomes over £100,000 have bought homes through Help to Buy. Now, critics have turned the government’s own figures on the scheme, accusing wealthier families of taking advantage. Those figures show nearly one in 20 households with Help to Buy support have six-figure incomes-  that’s more than more than 6,700. And families with incomes of £50,000 or more have now received 40% of loans, according to an MHCLG report. Read more on 24housing.

https://www.24housing.co.uk/news/critics-say-help-to-buy-helping-those-who-dont-need-help/

Wealthy Homeowners Received Millions In Public Money

Hundreds of millions of pounds of public money has been given to thousands of wealthy homeowners under a flagship Government scheme designed to help first-time buyers, new analysis has revealed. More than 5,500 homeowners earning above £100,000 a year have benefitted from taxpayer-funded Help to Buy loans that are aimed at helping people get on the housing ladder. Since the scheme was introduced in 2013, 5,545 households with an income of more than £100,000 received Help to Buy loans, including 1,287 households that already owned a property. Read more on the Independent website.

http://www.independent.co.uk/news/uk/politics/help-to-buy-property-millions-pounds-government-housing-home-ownership-shelter-a8156631.html