Market for shared equity products
Shared equity mortgage providers will be buoyed by the latest Mortgage Trends Report by Genworth Financial, which found significant interest for the products from those yet to get onto the property ladder. Research carried out by Datamonitor, on behalf of Genworth, found that of the nearly one third of people in Australia not yet on the property ladder, 30% would be interested in a mortgage product which allowed them to borrow money on preferential terms - generally at zero interest - in return for giving up a percentage of the capital gain to the lender if the property increases in value, when it is sold.
17 Oct, 2006