h a l f b a k e r y
A dish best served not.
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With the worldwide surge in residential property prices there is a massive pent-up demand for affordable rental accommodation.
The Timed Cap Flat offers a would-be home buyer a fixed period of subsidised rental, on the proviso they put aside a substantial portion of their disposable income towards
a cash deposit. At the expiration of the agreed term the buyer will have saved sufficient deposit to purchase their first home.
Penalties apply for the profligate spender, including loss of deposit.
Annotation:
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Rather than relying on the renter to put money aside, I would suggest making that part of the rent. No, wait a minute, then that would just be a regular mortgage, no money down. Where's the new idea? |
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(And NYC has plenty of affordable rentals, with artificially low rents for qualified renters.) |
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pun, play on words, echo. |
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That would simply be a RAPS (Rent Applied Purchase Scheme) deal, [DrCurry], wouldn't it? |
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