This is a question being asked by the Commons Public Accounts Committee (PAC), who believe that the homes built under the new Affordable Housing Scheme will in reality cost more to rent than current stock.
PAC argue that this is the case due to the lower grants negotiated by the government with the service providers, making the grant a third less than seen in previous residental property schemes.
The argument follows on from this into the wider sphere with sceptics arguing that with the possibility of higher rents fewer will be able to afford the new homes on their current incomes and claimants will need to find higher paid jobs in order to cover the cost. This comes at time when everyone is well aware of the current employment situations across the country.
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
Setfords Solicitors are a national full service law firm, with residential property Solicitors in Guildford and across the country.