Increasing Affordability Problems - a Role for Shared Equity Products? Experience in Australia and the Uk - an Update

Housing Finance InternationalVol. 22 Nbr. 2, December 2007

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Summary


Since writing the paper that appeared in the HR September 2007 issue there have been some activities particularly with respect to the three Australian products. The Greenway Equity Mortgage, an interest-free loan for up to half of the value of the property, has been marketed most aggressively at asset-rich retired people, intending retirees, to those wishing to upgrade to a bigger home and to those wanting to extract equity for other purposes, including providing support for family. Rismark announced their intention in late 2005 and, after tentative partnerships with a number of different financial institutions, finally launched their equity finance mortgage in 2007 through the Adelaide Bank. In the UK the government announced in their intention of examining ways of supporting the development of market based shared equity products as part of a package to address issues of Treasury management and affordability through changes to the regulatory framework.

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Extract


Increasing Affordability Problems - a Role for Shared Equity Products? Experience in Australia and the Uk - an Update

Since writing the paper that appeared in the HFI September 2007 issue (with the same title) there have been some activities particularly with respect to the three Australian products.

The Greenway Equity Mortgage (GEM), an interest-free loan for up to half of th...

See the full content of this document


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