Shared equity buyers may have more choice

30-Jun-2010

Published by Joshua Scott

Individuals seeking to purchase a house under shared equity may soon find they have more choice on the market.

The Royal Institution of Chartered Surveyors (Rics) said yesterday (June 29th) it anticipates a rise of up to 15 per cent in the number of properties put up for sale in the coming months.

Shared equity buyers may find it easier to secure a mortgage and join the housing market, by spreading the cost and risk associated with purchasing a home.

Rics comments came in response to the Bank of England publishing statistics on money and lending in June. As well as mortgage loans, the report dealt with interest rates and public sector debt.

The housing market experts noted the abolition of Home Information Packs was expected to encourage sellers to list their property.

Uncertainty surrounding the general election may also have put downward pressure on the housing market, notes Rics, although this is expected to diminish with time.

Shared equity and shared equity mortgages have become more popular as property has increased in price. Find out more at FirstRungNow.com or seek mortgage advice

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