Tory London mayoral candidate: homeless can save for house deposit

The Conservative candidate for London mayor has sparked controversy after suggesting that homeless people in the capital would be able to save up for a £5,000 deposit to buy a share in a newly-built affordable home.

Shaun Bailey has promised to deliver 100,000 affordable homes with his £4bn housing budget if he wins the election in April, many of them shared ownership, of which buyers would be able to purchase a share for as little as £100,000.

Asked how these families would produce a £5,000 deposit and secure a mortgage, he said: “I don’t think the £5,000 will [be a problem]. The mortgage application thing might be a bit tougher … they could save for it, yeah.”

Pressed by the interviewer on whether he was suggesting a homeless family in bed and breakfast accommodation could afford a deposit, Bailey replied: “Not all of them, but some people could. A full proportion of people could.”

Bailey’s comments attracted widespread bewilderment on Twitter. The Liberal Democrat councillor and candidate for London mayor, Luisa Porritt said: “Oh dear, the Tory candidate is at it again. This time he’s suggesting homeless families ‘save up’ for a deposit. Just how out of touch can he get?”

Lambeth Labour councillor Ed Davie tweeted: “Famously, people living in poverty usually have at least £5,000 lying around – it’s amazing that it hasn’t occurred to them to simply buy a London property, which are well known for being really cheap. Thank God senior Tories are here to give out this good advice.”