Government pledges to increase number of affordable homes

Government pledges to increase number of affordable homes

The government has announced new measures to help more people get onto the property ladder, as part of a £12.2bn investment in increasing affordable housing.

A new shared ownership model would see the minimum initial share to buy in a property reduced from 25% to 10%.
People would also be able to buy additional shares in their home in 1% instalments with heavily-reduced fees.
The £12.2bn investment, listed in the Budget, includes £700m for new homes.
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Source: BBC


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