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CML Conference: Government plans shared equity pilot run in October 2006

The government is planning a pilot run of its shared equity scheme to help more first-time buyers get onto the property ladder in October 2006.

Yvette Cooper MP, minister of state for housing and planning, revealed the date during her speech Extending Home Ownership at the Council of Mortgage Lenders annual conference today. She said the pilot run would allow the government to check the affordability of shared equity products, ensure competitive rates and consumer choice.

Answering questions at the end of her speech, Cooper also emphasised that shared equity, unlike the transfer of equity through the generations, was for the benefit of all regardless of their family assets.

The governments plans to help first-time buyers afford properties through shared equity was set out yesterday in Gordon Browns Pre-Budget Report. Brown told the House that three building societies and banks, the Yorkshire, HBOS and Nationwide, had joined it as partners in shared equity with the aim to extend home ownership and affordable housing for all.


M2i adds three to its member base

M2i has launched three more relationships to their member base.The services of LifeQuote, Commercial Mortgage Solutions and Commercial Money Matters have been introduced to their members providing them with more choice and opportunity.Steve Butler, head of m2i, says: We opened discussions with these companies following feedback from our members. Listening to and acting upon their […]

Brunig sets up HIP provider for the independent market

Peter Bruning, who resigned as chairman of SecureMove in June, has revealed to Mortgage Strategy he is launching an alternative Home Information Pack provider to cater for the independent market.

Openwork offers international mortgages with Conti and Viva Costa

Openwork this week goes live with an international mortgage offering through Conti Financial Services and Viva Costa International. Openwork advisers will have access to more than 200 residential mortgage products available in over 30 countries worldwide through Conti. The company has a staff of 20 and has been trading for over 10 years. It offers […]


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