Published: 13th Jun 2019

Liverpool city centre. Credit: LivingOS (CC BY-SA 2.0) Liverpool City Council’s ethical housing company Foundations has launched a new rent-to-buy scheme to help people to eventually own homes of their own. The initiative will allow people to rent homes at 80% of market rent so they can save the other 20% towards a mortgage to buy the property. It will be launched with a pilot project involving 14 new family homes in the inner city area of Dingle. Residents will be given the option to buy the home after 12 months and up to five years after moving in at a fair price based on the house’s valuation at the time of purchase. The launch of the scheme is subject to agreement at a Liverpool City Council cabinet meeting set to take place next Friday (21 June). Mark Kitts, chief executive of Foundations, said: ‘We can … (To read the full article, subscribe below)