Gunther went on to urge the policy makers to encourage more home ownership via low cost home ownership schemes to help the many frustrated first-time buyers who were priced out of the current housing market.
“At present, low-cost home-ownership schemes help only 4,500 households a year,” said Gunther. “But this is a drop in the ocean in the context of 300,000 first-time buyers even in a bad year.
“Flexible tenure would make the divide between renting and owning much more blurred. Why should any lender have to repossess a home in the future, if there is an alternative to move a borrower in difficulties on to a part-ownership status?”
