Muir's shared home ownership deals provide answers to families following shocking new figures
MUIR’S shared ownership homes are providing the answer to first time buyers, the Association’s Executive Director of Operations has said in the wake of shocking new housing figures.
Sam Scott was speaking following release of the startling statistics released by the housing charity Shelter, showing how eight of every ten families cannot afford to buy new homes built in their local areas.
Its research shows how rising house prices are hitting people hard throughout the country, and was documented in a headlining BBC story highlighting the issue on March 2nd.
Sam said: “These figures show how important Muir’s shared ownership properties are to providing a key to the future for people and families, who can’t otherwise afford a home of their own.
“We have seen a steady growth in the number of people buying and enquiring about our shared ownership homes.
“They really are providing an answer to people wanting the security of owning their own home and getting on the property ladder.”
Shared Ownership offers buyers the chance to buy a percentage share of their home, and pay rent on the remaining share.
Buyers can then buy a greater share in their property when they can afford to.
Shelter’s research shows that new-build homes are almost a quarter more expensive than ‘second-hand’ homes.
The BBC reported that Shelter's interim chief executive, Graeme Brown, said: "Big developers and land traders are making millions from a rigged system while families struggle with huge renting costs and have to give up on owning a home of their own, which has become nothing more than a pipedream.”
However, Muir’s exciting strategy of new shared ownership developments is helping to provide an answer as interest in them continues to grow.
“New-build properties are proving to be beyond the reach of most families, as Shelter’s figures demonstrate,” said Sam, pictured.
“But Muir is giving people an affordable option which is becoming increasingly popular and providing a genuine answer.”
Muir has completed the sale of 40 shared ownership homes in the last two years and is expecting to see those figures rise as more and more families turn to shared ownership.
To see the Muir shared ownership homes currently available, visit www.muir.org.uk/find-a-home
To access the BBC story referred to above, visit www.bbc.co.uk/news/education-39128037