Nick Clegg's Liberal Democrats have launched their new housing policy which will help first-time buy...

1. Lib Dems make pledge to Rent-to-Own housing schemes
Nick Clegg's Liberal Democrats have launched their new housing policy which will help first-time
buyers to get onto the property ladder.
It will be aimed at first-time buyers, who can usually afford monthly mortgage payments, but not the
deposit required at the start. They will instead pay monthly instalments, equivalent to market rent
prices, which builds up their shares in the property and eventually leads to full ownership after 30
years.
Should they wish to, homeowners are able to sell onto the open market at any time, cashing-in their
share to use as a deposit for another house.
"For working people the dream of home ownership is increasingly out of reach. Prices are so high
renters cannot afford to save for a deposit, which means they can never take that first step onto the
housing ladder" said Nick Clegg, Deputy Prime Minister, who announced that 30,000 houses would
be delivered as rent-to-own homes if the Lib Dems come into power.
Housing is a significant topic for political parties leading up to the General Election in May. Labour
has pledged 200,000 houses each year by 2020, whilst the Conservatives are offering 20% discounts
to first-time buyers under the age of 40. UKIP want to utilise brownfield land and protect greenbelt
land.
http://www.mortgages.me.uk/news/2015/mar/lib-dems-make-pledge-to-rent-to-own-housing-schemes-
91730158.html