UK government announces £200 million housing association scheme
The UK government has announced a £200 million scheme which will see not-for-profit housing associations funded by the taxpayer and allowed to buy part or all of the equity in the home of a struggling owner. It is hoped that the scheme, which should allow homeowners to repurchase their properties when their financial status improves, will see a sharp reduction in the number of UK homeowners who are forced onto the street.
While homelessness is something which is not covered in great detail by the UK media, like the US, it is becoming a serious situation in many parts of the country. This despite over 750,000 homes in the UK still standing empty and are unlikely to be sold in the short to medium term. Maybe the government should be looking towards these 750,000 homes instead of introducing a further £2 million into the sector?
There are literally millions of homeowners on the verge of bankruptcy across the UK and many stand on the verge of losing their property. Even though the government announced its first mortgage rescue package some weeks ago, there has been very little movement in this area and indeed all of the details have yet to be announced. Many are now starting to grow tired of the UK government's constant headline grabbing announcements which are very rarely backed up by significant detail and action.
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