Shared Equity Scheme Can’t Replace New-Build Homes

Written by Claire Munro Friday, 21 January 2011 09:54

The SFHA has commented on the news that the Scottish Government is to double its funding for a scheme to help people on low to moderate incomes  to buy a stake in their own property.  Around £5million is to be invested in the scheme.

SFHA Chief Executive Mary Taylor said:

"Any extra money for housing is good news, but this scheme will do nothing to help the thousands of people of low incomes on waiting lists for an affordable rented house in Scotland. This shared equity scheme will help a small group of people to access home ownership, but is no substitute for high-quality rented accommodation, of which we have a serious shortage.

"The Finance Secretary has today confirmed Scotland's construction sector and the Government's own capital spending programme as providing the "foundation" of recovery in Scotland, as the latest figures show a rise in employment. This emphasises the value of new house-building to the economy. But these jobs, as well as badly-needed new affordable homes, will be at risk if the Government presses ahead with the 30% cut to affordable housing proposed in next year's Scottish Budget.

"We would urge the Scottish Government and Parliament to think again on handing down such a large cut in such an economically and socially beneficial area of public investment."

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