incremental purchase scheme

[tweeney]

hello,just wondering does anyone know how this scheme works and when it will come in to effect???or if it is even worth looking in to?am lone parent living at home with parents and other family members..accomodation totally overcrowded..i have a permanent job and am on council housing list...but i guess i would have a long wait...and would rather try purchase my own home...looked in to AH but dont want to go down that route

 

[sparkle82]

Hi Tweeney,

I'm speaking from my own personal experience here but I would say avoid affordable housing at all costs!! It sounds like a good deal but there are too many stipulations with it. If there is a change in your personal circumstances (like a new job or baby!) and you need to move you can't without incurring a penalty and you're not allowed to rent.(you can rent out 1 room but that's no good with kids!) Why don't you rent a place yourself if it's too overcrowded at home? Just for a short while even. Haven't heard of the incremental purchase scheme. Is that like the rent to buy scheme???