Lamport Bassitt Solicitors - Legal News - Rent-to-buy 'won't solve housing crisis'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Rent-to-buy 'won't solve housing crisis' The new rent-to-buy initiative designed to deliver a much-needed boost to the residential property conveyancing sector will not do enough to solve the housing crisis, it has been claimed. PricedOut, the campaign for affordable housing in the UK, said it is an "interesting scheme" but buyers need to remain cautious. TryitBuyitProperty scheme, designed to close the gap between renting and homeownership, was endorsed by housing minister Grant Shapps this week. Matt Griffith, spokesman for PricedOut, said there are concerns about whether the final selling price would represent "fair value" in relation to the rent already paid. He urged first-time buyers to look at other properties on offer for both rent and sale, as they may get a better price. "It is important to emphasise that this scheme is a miniscule part of the market - it is not going to solve the housing crisis faced by many young people," Mr Griffith added. Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net �450m a year in savings More Individual Legal Services News