‘buy as you go’ housing scheme to be announced in Autumn statement
The UK chancellor is set to announce a new ‘buy as you go’ housing policy in his Autumn statement. The policy announcement will form part of major revamp of the housing market and will provide struggling families with the chance to buy their homes after 25 years of paying rent.
Under the new type of tenure buyers will not need to have paid a deposit or require a mortgage but will build up equity in their homes over time.
The rents paid under the new scheme would be split between rent and equity payments changing over time until the tenant eventually owns their home outright.
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