Good to know the Tories have their finger on the pulse of what it means to be a homeless family in London /s.
Just dig out that spare five grand you were holding onto while your family was in temporary accommodation and apply for a part-mortgage. I'm sure the banks will be falling over themselves to help.
Just dig out that spare five grand you were holding onto while your family was in temporary accommodation and apply for a part-mortgage. I'm sure the banks will be falling over themselves to help.
In an interview with Inside Housing, Shaun Bailey defended his plans to use housing budgets to build a higher proportion of shared ownership homes – where residents buy a share and rent the remainder – than Sadiq Khan.
Mr Bailey has promised to deliver 100,000 affordable homes with his £4bn housing budget if he wins the election in April, with a large proportion of them shared ownership.
He hopes buyers will be able to purchase a share for as little as £100,000, meaning a mortgage could be available for a deposit of £5,000.
But according to the most recent figures, London has 62,670 households in temporary accommodation, including 44,190 with children – more than double the figures in the rest of the country combined.
Asked how his housing plans would help these families, Mr Bailey said: "A large number of those 62,000 people you've identified would not be eligible for what he's [Mr Khan] saying and would be eligible for what I'm saying."
Asked how these families would produce a £5,000 deposit and secure a mortgage, he said: "I don't think the £5,000 will [be a problem]. The mortgage application thing might be a bit tougher… They could save for it, yeah."
Homeless families ‘could save for mortgage deposits’, says Conservative candidate for London mayor
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www.insidehousing.co.uk