Government plans to reform shared ownership and Help to Buy

Government plans to reform shared ownership and Help to Buy

Housing secretary Robert Jenrick has unveiled plans to reform shared ownership and Help to Buy which are designed to make the schemes more accessible for borrowers.

Those buyers using shared ownership schemes will be able to increase their share of the property in smaller increments of just 1%. Now it is only possible to staircase by 10%.

In addition to this, the government is also planning to reform the Help to Buy scheme. Following the changes borrowers should be able to take out mortgages of up to 35 years instead of up to 25 as it currently stands.

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