Create an innovative housing company
I want to create an innovative housing company to build 10,000 rent-to-buy homes to tackle inequality and affordability.
The housing company will compete with the private sector to purchase land and build housing which will then be made available to people who have had difficulty getting on the housing ladder.
The innovative rent-to-buy model will make it easier for people to build up a deposit, while living in the property as a tenant. When the deposit has been built up, over 5, 10 or 15 years, the tenant can buy the property with a conventional mortgage.
This will make it much easier for people who want a home of their own, whether that’s because they are a new family or starting out for the first time, yet struggle to save for a deposit.