MPs recommend urgent reform of shared ownership

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“Shared ownership was hailed as an answer to the housing crisis especially for first-time buyers. However, we have found that for too many people shared ownership becomes an unbearable reality, where a blizzard of charges and an unfair burden for maintenance and repair costs means that they are unable to afford full homeownership.

Rising rents, hefty service charges, complex leases, disproportionate repairs and maintenance costs are experienced by too many people who take the shared ownership route. The Government needs to take clear and urgent action to tackle these issues and ensure shared ownership genuinely delivers affordable homeownership”.

Clive Betts, Chair of the Levelling Up, Housing and Communities (LUHC) Committee

On 28th March 2024, the Levelling Up, Housing and Communities (LUHC) Committee published its report detailing its conclusions, and recommendations, following an 8-month inquiry into shared ownership.

Shared Ownership Resources submitted written and oral evidence to the inquiry, and welcomes the report.

Read Shared Ownership Resources’ response to the Committee’s report here.

Featured image: benzoix on Freepik

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