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Steve Collins, Chief Executive of Rentplus, the leading affordable rent to buy provider, commenting on today’s news that the Ministry of Housing, Communities and Local Government has not delivered any of the 200,000 ‘Starter Homes’ for first-time buyers
“News that the Ministry of Housing, Communities and Local Government has not delivered any of the 200,000 ‘Starter Homes’ for first-time comes as Homes England reports a 34% decrease in affordable home ownership schemes over the last six months. MCHLG has also admitted it holds no data on the number of people who have transitioned to full home ownership under Shared Ownership, yet the tenure makes up over a third of all homes delivered by Homes England since 2015.
“These figures are a fresh blow for aspiring home owners, as the Government continually fails to meet the needs of this group. As a result, there is potentially a much greater role that privately funded providers can play in boosting the overall number of homes for first-time buyers with no reliance on Government funding.
“Schemes such as affordable rent to buy are already providing a much more accessible route to full ownership with tenants buying their home outright at a set five 5 yearly interval without needing a deposit to move into the house they will buy. The Government and local authorities should take note and do more to support these schemes, encouraging their development on a much wider scale to meet the home ownership ambitions of many more people.”