PHILADELPHIA: A joint equity investment entity said it will cater for reluctant renters, retired renters and divorced & separated renters who are unable to raise a deposit and don’t qualify for local authority or housing association support because they earn too much.
Under the Joint Equity scheme the homebuyer will need a 5% deposit and be able to afford a 45% loan-to-value mortgage. Bond holders will then provide the remaining 50% of the purchase price, the conveyancing and survey costs…..