Housing Association to the fore

Created on 08/07/2016 @ 07:34

Mid Wales Housing Association has again been at the forefront of the development of housing policy in Wales, with its proposals to help tenants buy a home of their own.

Early last year the Association consulted the public on whether or not its tenants, should be able to buy a share of their home, but with the benefit of a “buy back safety net” should they get into financial difficulties. An overwhelming 70% of people replying supported the idea.

Shane Perkins, the Association’s Chief Executive, thanked those who responded to the consultation and said: “We feel these results reflect the public’s general appetite to own their own home, but equally reflect the current affordability problems everyone experiences trying to get on the ownership “ladder” at the moment. This is a problem which is particularly acute in this area given relatively low salaries”.

The Association has been developing the idea further in discussions with both Welsh Government and key lenders in Wales, as clearly its success is dependent on the availability of mortgage finance.

Mr. Perkins explained: “We met recently with representatives of the Council for Mortgage Lenders and the Welsh Government and are pleased that both organisations recognise the need for a shared ownership product for Wales. We understand this will be something the new Welsh Government administration will now be considering.”

The full report on the consultation can be found at the Association’s web site http://www.mid-walesha.co.uk/en/shared-home-ownership-consultation-responses