As many residents in the UK face the tough realization that they may never own their own home and reluctantly decided to become part of the private rental sector, we see a number of bosses at some of Britain’s biggest building firms are using company perks to buy cut-price properties at their own developments.
These are the same people that probably already own their own luxury property and have considerable assets when it comes to UK property, not a bad thing as they have worked hard and everyone deserves to have the opportunity to purchase their own home.
But do this off the back of your average hard working family is just plain wrong.
Multi-millionaire chief executives have saved tens of thousands by taking advantage of staff or shareholders’ schemes to build up property empires.
Homes intended for young families and first-time buyers.
Yet critics say builders are lining their own pockets with ‘unethical practices’ instead of concentrating on making well-built affordable homes for young families.
All of this in the middle of the worst housing shortage the UK has seen, estate agents report that the number of properties on their books has fallen to the lowest level since 1978.
But experts have condemned such practices. Paula Higgins, of the Homeowners Alliance, said: ‘I wish that these house builders would focus on giving people what they want, and that is well-built affordable homes, instead of focusing on these unethical practices and lining their own pockets.’
Justin Madders, Labor MP for Ellesmere Port and Neston in Cheshire, said: ‘This is morally unacceptable. To hear that the big bosses of these developers are helping themselves to significant discounts while my constituents are suffering is an insult.’
For more information regarding UK property investments providing 10% asset backed annual returns please visit DevDosh Ltd today.