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22/12/2008
Shared-equity schemes 'lower risks all round' |
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It has been claimed that shared-equity shames make it easier for all parties.
Helen Adams, managing director of FirstRungNow.com, has suggested that lenders, as well as borrowers, benefit from shared equity schemes.
Ms Adams says that fewer lenders want to lend to first-time buyers because of the risks involved, but these schemes benefit the market because they "make the risks lower to the lenders as well".
The government's HomeBuy Direct proposal will see buyers offered an equity loan of up to 30 per cent of the purchase price on specific new-build properties with the loan provided by the state an the developer.
Up to £400 million will be available as part of the scheme to help up to 18,000 buyers.
Ms Adams has supported the government's plans, claiming that she does not think there is much more they can do.
"They are trying to support the economy and encourage lenders to lend and try to see to it that first-time buyers can buy first time," she added.
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