Ann Holtom, Liberal Democrat general election candidate for Birmingham Erdington has strongly welcomed the launch of the Lib Dems 'Rent to Own' policy. The plans help first-time buyers build up a share in their home through renting. Young people will be able to buy their own home without a deposit to help them onto the housing ladder under radical Lib Dem manifesto plans. This revolutionary scheme is a huge shift in housing policy and will give those caught in 'generation rent' a chance at home ownership.
Ann said: " 'Rent to Own' will see first-time buyers steadily build up a share in their home through monthly payments equivalent to rent until they own the property outright after 30 years, just like an ordinary mortgage.
Under this Liberal Democrat scheme, the government would partner with housing associations and other providers to deliver 'Rent to Own' properties where monthly payments are no higher than market rent.
This is forms part of Liberal Democrat plans to deliver 300,000 homes each year, with the government bridging the gap between private sector building and demand."