Tory London mayoral candidate: homeless can save for house deposit
The Conservative candidate for London mayor has sparked controversy after suggesting that homeless people in the capital would be able to save up for a £5,000 deposit to buy a share in a newly-built affordable home.
Shaun Bailey has promised to deliver 100,000 affordable homes with his £4bn housing budget if he wins the election in April, many of them shared ownership, of which buyers would be able to purchase a share for as little as £100,000.
Asked in an interview with Inside Housing how this policy would benefit the capital’s 62,670 households currently in temporary accommodation, Bailey said he would encourage them to apply for shared ownership properties.
Asked how these families would produce a £5,000 deposit and secure a mortgage, he said: “I don’t think the £5,000 will…