Govt 'is determined' to provide more rural property

Posted: 14 Aug 2009 09:59:34 GMT

MP for housing Ian Austin has pledged to help first-time buyers get on the property ladder in rural parts of the UK.

His comments came as the government announced new measures to protect rural property and ensure more homes are available in these areas.

Under the powers of the Housing and Regeneration Act 2008, over 13,000 small rural settlements will come under protection.

Shared ownership properties in these parts of the UK will be retained by a number of methods - either by restricting the shared ownership levels to 80 per cent or by permitting owners to buy 100 per cent but making sure the provider such as a housing association has the right to buy it back ahead of future sales.

"We simply can't afford to lose shared ownership homes in areas where they are difficult to replace which is why these new provisions on ownership are so important," said Mr Austin.

Various property industry commentators have commended shared ownership schemes in other parts of the UK as they give first-time buyers a chance to take that inaugural step on to the housing ladder.


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