Increase in sales of shared ownership homes 'unlikely'
Property professionals
5th May 2009
A rise in the number of people registering interest in shared ownership properties probably will not result in an increase in sales, it has been claimed.
According to a spokesman for the National Housing Federation (NHF), many lenders view such schemes as higher risk propositions, compared to deals involving properties sold on the open market.
"We have been doing quite a lot of work lobbying Northern Rock ... to take a lead and stop treating people looking to buy these kinds of properties as a higher risk," he commented, adding that a relaxation of lending criteria is needed from the banking industry to stimulate buying.
Last month, Sentinel Housing Association revealed that enquiries about shared ownership had almost doubled in the preceding three months.
The NHF speaks on behalf of around 1,300 independent, non-profit housing associations across the country. Its members provide about two million affordable homes for five million people.
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