Lincoln unveils shared ownership schemes

04-Nov-2005

Housing chiefs in Lincoln have responded to calls for more affordable housing sites and promised to build more low-cost properties in the area.

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Teaming up with the city council, the seven housing associations believe that supporting aspiring homeowners is vital and that more affordable housing and shared ownership schemes should be available.

Potential homeowners are set to benefit under the new plans, with shared ownership schemes offering an alternative route to getting on the property ladder and helping to ease the financial burden of purchasing a home.

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The schemes allow first time buyers to share ownership of the house with a local housing authority or the privates sector, reducing the initial cost of financing the move.

Lincoln housing officials say that, although the plans are still at an early stage, they are confident of the success of the new developments and are currently outlining potential site details.

Proposals to ensure that the properties are energy efficient will encourage more aspiring homeowners to consider the schemes as a recent report found that energy saving appliances are seen as an important factor in the house buying process.

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