“Buying on the open market was beyond my reach. Shared ownership appeared to offer an affordable route into home ownership. But now I am stuck, and it is difficult to obtain clear and transparent information about the buyback process.“
Shared owner, Anna Belabbes, explains her experience of shared ownership.
I purchased my initial 45% share from Moat Homes, in 2012, via a key worker housing scheme in Brighton. Shared ownership was presented as a route to get onto the housing ladder. My intention was always to use shared ownership as a stepping stone. Like many shared owners, I saw the scheme as a means to build equity and, eventually, move on to a home that better suited my family’s needs.
Instead, building safety issues, ongoing water ingress, and the resulting impact on value and marketability have prevented that from happening.
I’ve experienced ongoing problems with leaks and mould
I first noticed problems with water ingress around 14 years ago, shortly after I moved in. The initial repairs were covered under the NHBC warranty. However, the problems have continued, and re-emerged over time, despite repeated reports and attempts to address them.
Ongoing leaks and mould have had a significant impact on my wellbeing. Rather than feeling safe in my home, I experience constant uncertainty and anxiety. Particularly during periods of heavy rain which always make me concerned about further damage.
What should have been a secure and stable home has instead become a source of ongoing stress, disruption and frustration.
Building safety issues
I first became aware of building safety concerns following the Grenfell tragedy. It was around this time that Moat formally informed us that there were issues affecting our building. Since then, there has been prolonged uncertainty about responsibility, remediation, and the impact on leaseholders.
“I looked into buyback when I realised I couldn’t sell my property on the open market.”
Buyback
Around two years ago, I enquired about buyback. This followed years of unresolved water ingress, building safety concerns, and the growing realisation that I was effectively unable to sell my property on the open market. I felt trapped. And uncertainty around remediation meant there was no clear path forward.
Buyback appeared to be the only realistic and fair exit route, particularly as the issues were not of my making. I had met my obligations as a leaseholder, yet I was left carrying the consequences of structural and building defects outside my control.
Moat Homes have a strict buyback policy. They only consider buying back homes in exceptional, specific circumstances – primarily for customers facing severe financial hardship or when major building safety/remediation issues make properties completely ‘unmortgageable’ on the open market.
However, it was difficult to obtain clear and transparent information about the buyback process.
I had to repeatedly request information, and it wasn’t clear what criteria were being applied to me or what discretion existed within the buyback policy. This lack of clarity created additional stress during an already difficult situation. The process has been extremely frustrating and emotionally draining. It’s been difficult to obtain meaningful support.
The financial and emotional impact is severe and ongoing
In addition, Moat has pursued me for service charge arrears despite clearly communicating my financial hardship and the circumstances I am facing. My shared ownership service charges and rent currently stand at £1,035 per month.
During this already difficult period, I was also dealing with the death of my father.
I may have to sell my property at auction
If Moat refuse to offer buyback, I face the possibility of the property being sold at auction. My concern is that it will sell for significantly less than it would have achieved had the building defects and water ingress issues been properly resolved. If this happens, I fear I may face a financial shortfall that I cannot reasonably absorb.
I’ve asked the Housing Ombudsman to review the way my request for buyback has been dealt with
Given the lack of progress and clarity around my buyback request, I’ve escalated my concerns to the Housing Ombudsman. I am seeking clarity and accountability regarding how my case has been handled and the decision-making process applied.
How I’d improve shared ownership
My experience has fundamentally changed my understanding of shared ownership.
While it is presented as a route onto the housing ladder, the reality for some leaseholders facing serious building defects is very different. When things go wrong, individuals can be left exposed to prolonged financial and emotional strain with limited ability to resolve the situation.
There needs to be greater transparency, consistency, and fairness in buyback policies. Where homes are affected by serious defects, leaseholders should not be left in prolonged uncertainty or face financial penalties for circumstances beyond their control.
A fair exit route should be timely, transparent, and compassionate.
Other Resources
Shared Ownership Resources – Buyback policies: Q&A with WBD legal experts
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