The Government has been consulting on changes to shared ownership that aim to improve customer experience of the product.
3 October 2019
Housing associations have a strong track record of supporting people into home ownership and making the shared ownership experience as simple and accessible as possible, so we support the aims of these proposals.
In our response, we set out our view on the key parts of the proposals:
- making it easier for people to increase their share of ownership, including by staircasing as little as 1% after the initial purchase
- making it easier for people to sell their home by replacing the eight week ‘pre-emption’ clause with a time limited Right of First Refusal for the housing association to buy back the home
- introducing a standardised national model for shared ownership, to give confidence to consumers and lenders.
This response was submitted before the Conservative Party announced separate proposals to give housing association tenants the right to shared ownership of their home, and it does not address these proposals.