Shared Ownership - Distinctly lacking in MPC

Thu 1st September 2011
On the barren shared ownership plains of Milton Keynes thousands of Lesser Spotted Shared Ownership Leases wander in herds across the landscape. They were born in better times when mortgage funding was thick and lush. Now they languish and in all probability represent a species on the verge of extinction. It’s a toss up between the Giant Panda and the “Lesser Spotted” as to which will die out first.

So where does the threat of extinction come from? It comes from a drought in mortgage funds that has become more pronounced following the so-called “credit crunch”. There is a well of funds that could provide life for these ailing creatures, but it is controlled by the Council of Mortgage Lenders. They will only extend relief if leases are branded with the magic initials “MPC”. The Lesser Spotted is not so branded.
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