Housing minister Mark Prisk has acknowledged older first-time buyers may miss out on the government's Help to Buy scheme.
The Homes and Communities Agency delivering the programme cannot act as a first charge lender, meaning applicants for the Help to Buy equity loan must take out a mortgage. Prisk said: “I appreciate this may mean that some older purchasers may not be able to access the scheme.” Older people who missed out could join a shared ownership scheme instead, he said. He was responding to a question from Labour MP and former housing minister John Healey. The government’s Older People Shared Ownership Scheme allows elderly home buyers to purchase between 25% and 75% of a purpose-built prop...
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