Helping Buyers ; & Comment Debate Your Letters to the National Newspaper of Wales

Summary

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SIR - As potential first-time house buyers find it almost impossible to pay rent (which is just throwing money away) and at the same time save for a deposit, why don't we create a "rent and then buy" scheme, where they start by paying rent (at the same rate as a mortgage) plus 10%, then after three years their payment becomes a mortgage and the 10% is dropped? If they default during those three years they lose the house but have whatever they have contributed towards the 10% refunded, to help towards their next deposit.

Of course to breaK this cycle, where virtually every couple hands over a third of their lifetime earnings to mortgage companies, the value of a family house should be excluded from inheritance tax, so that eventually most families, not just the rich, own what their ancestors spent their lives paying for.

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Helping Buyers ; & Comment Debate Your Letters to the National Newspaper of Wales

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