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18/02/2013
Mortgage-To-Rent Scheme Processed Just Eight Homes Since Launch
Just eight homes are currently being sold through the governments mortgage-to-rent scheme.
Launched last June, the scheme is aimed at low-income families whose mortgage situation has become unsustainable by ensuring that the family remains in their home, while ownership is transferred to an approved housing body, which in turn rents the property to the original owners.
However, eight months on and just eight homes have gone through the service, with only two of those transactions completed so far, and this is from an initial application number of 708.
(H/GK)
Launched last June, the scheme is aimed at low-income families whose mortgage situation has become unsustainable by ensuring that the family remains in their home, while ownership is transferred to an approved housing body, which in turn rents the property to the original owners.
However, eight months on and just eight homes have gone through the service, with only two of those transactions completed so far, and this is from an initial application number of 708.
(H/GK)
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