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Affordable Housing Crisis: Cornish Dad Gets First Mortgage at 53

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11:35am 19th June 2014
(Updated 11:35am 19th June 2014)

Pirate FM has learnt that a dad given a mortgage for the first time at 53 would still be renting if it was not for a scheme in Cornwall.

More than 50 locals are hunting for an affordable home in Lostwithiel.

Housing Minister Kris Hopkins visited the previously stalled Castle Hill Road development on Wednesday which has been unlocked thanks to a 1.3 million pound government loan.

He said: "We want people to build, we want a whole range of tenures whether its social housing, council housing, affordable to buy, affordable to rent, private homes at full market price, there needs to be a broad offer out there because there is demand.

"Nationally, people are saying we should be building 200,000, we want to build to demand, we want to be able to make sure that people, however old they are and whatever their needs are, that we can meet that housing demand."

The funding scheme sets out to help builders build new homes in a challenging economic climate.

Richard Brown says finding a deposit was tough: "We were able to buy at 50% of the evaluation so we paid 90 thousand for it but we had to put down a 20% deposit which was an 18 thousand pound saving. We've had people chip in and help us otherwise we'd never have been able to afford the 18 thousand.

"I'm earning 16 and a half thousand a year. I think that's above, probably by two or three thousand, the Cornish wage. Even then, achieving the 90 thousand was always going to be a bit tight so I don't know how people in Cornwall are ever going to be able to afford."

11:35am 19th June 2014

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