Problems with new shared equity scheme

Thu, 21 Aug 2014

Government says "a few teething problems" and cases of people not handing in paperwork in time have left some first-time buyers in the lurch.

Problems with the new shared equity scheme were highlighted earlier this week by the Speaker of the House of Keys Steve Rodan.

Believing banks and the government hadn't communicated enough when implementing the scheme Mr Rodan said many interested buyers were left in 'limbo'.

Health and Social Care Minister Howard Quayle says there's more to the story: