Between 18 and 30? Club together to buy a house

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Between 18 and 30? Club together to buy a house

Stroud District Council will be hosting an event on Tuesday 6th February to help young people on to the housing ladder. The event, which has been organised as a joint venture between the council and Stroud District Youth Council, is being targeted at 18 to 30-year olds, but is open to people of all ages. It will promote a service called "Share to Buy" which helps people buy joint shares in properties when buying alone may be just out of their reach. Anyone who may be interested is invited to attend.

Ashley Skuse, Youth Council cabinet member for housing explained: "The issue of affordable housing is not going to go away and that's why we feel that the Youth Council should get involved now. In the years ahead many of us, and those we represent, will need our own homes hence we’re keen to see what we can do now. This innovative initiative is available now and we hope that as many people from the district will attend to see how they may be able to benefit."

The presentation of the Share to Buy scheme will be delivered by the Graduate Network, but Councillor John Jeffreys, Stroud District Council's cabinet member with responsibility for housing was keen to point out that the scheme was open to everyone, and not just those with a degree qualification. He said: "The Share to Buy scheme started off with graduates but is now open to everyone. It's a specialist scheme that allows up to four people to pool their incomes to buy a property. Traditional lenders only take into account the first two incomes when joint mortgage applications are made. By promoting this service friends and families will be able to get together and benefit from owning their own homes."

As well as allowing more than two people to buy shares in a property the Share to Buy scheme also simplifies the contractual arrangement between buyers by drawing up joint ownership legal agreements free of charge.

Councillor Jeffreys added: "We're also encouraging employers to attend as the scheme may be of great value to helping their staff access affordable housing."

The event takes place at 7pm on Tuesday 6th February in the Council Chamber at Stroud District Council's Ebley Mill offices.

Posted : 31/01/2007 11:02:32

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