Shared Ownership re-education needs to be a key focus for 2016

Shared Ownership re-education needs to be a key focus for 2016

Discussions around the opportunities within Shared Ownership schemes need to become part of mainstream mortgage advice if the UK is to achieve a healthy housing market, Legal & General Housing Partnerships has warned.

The sector is still vastly underserved and misunderstood, by both the industry and consumers, with a re-education in the area needed.

To tackle this issue, Legal & General Housing Partnerships has engaged with a number of housing associations, and is hosting an event for brokers, lenders and providers, which will explore the ways in which the industry can work effectively together to deliver a robust Shared Ownership market.

The event will discuss the Government’s current measures on Shared Ownership, proposed policy changes, and funding which could equate to 30,000 new Shared Ownership homes per year. The forum will facilitate panel discussions and aim to provide attendees with the facts and requirements of Shared Ownership to ensure the scheme is used successfully and to the advantage of consumers.

Speakers at the event will include representatives from the Department of Communities and Local Government, the Chartered Institute of Housing, and Mortgage Trade Bodies such as the Council of Mortgage Lenders and the Building Societies Association.
 
To ensure continued commitment to the Shared Ownership sector, Legal & General has also formed a working group to action change.


Stephen Smith, Director, Legal & General Housing Partnerships commented: “Our hope is that this event will drive discussions on how the industry can work together to develop a strong Shared Ownership sector, providing a platform for conversations on how the scheme can be promoted and used to its full advantage. It is vital that Housing Associations and Mortgage Lenders collaborate to promote the benefits that the initiative can have for all. Due to the continued shortage of housing in the UK any scheme that can help more people get on the property ladder and achieve their aim of owning their own home, should be welcomed and supported.”  

Boris Worrall, Executive Director of Futures, Orbit Group, said: “There is huge demand for Shared Ownership and now Government has backed this product with a major investment package. It’s up to us to create the conditions for it to really fly and it’s been brilliant to work with L&G to bring lenders and brokers in on the conversation.”

Gavin Smart, deputy chief executive, Chartered Institute of Housing, added: “The Government’s ambition to drive the growth of Shared Ownership is very welcome – doubling the number of new homes built every year could help thousands of people who have been priced out of a decent place to call their own. We’re really pleased to be working with Legal & General and Orbit to bring housing associations and lenders together to help achieve that.”

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AbbieP.
AbbieP. 22 Jul 2016

"While house prices in the most expensive eleven boroughs have declined values in the cheapest eleven boroughs continue to rise" - not a nice way to even out the price range. London is overrated as it

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AbbieP.
AbbieP. 21 Jul 2016

And try to profit from your decisions, I may add

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CommercialTrust
CommercialTrust 19 Jul 2016

Retirement investment has always been one of the biggest draws of buy to let. And the buy-to-let demographic is, on balance, older. (Over a third of our applicants are over 50 at the time of application.) It...

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Forrest Wheatey
Forrest Wheatey 11 Jul 2016

I find the time perfect for ever home-owner wannabe. Prices should slowly, but steadily drop, at least for the inner buyer. Making it harder for outsiders to buy properties (the whole Brexit thing means...

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property guru
property guru 11 Jul 2016

Why should Ajay even have to be looking for it. It should be public knowledge. Why is not just publish each years and to were it is and be AUDITED. Accountability.

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property guru
property guru 11 Jul 2016

Surprise suprise

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CommercialTrust
CommercialTrust 30 Jun 2016

This is great news for buyers and investors in a period of significant uncertainty. The 10-year buy-to-let fix at 3.99% in particular is excellent, a clear 100 bps ahead of the nearest competition. Though...

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Lee
Lee 30 Jun 2016

Let's see what happens to north-east property prices when Nissan announce they're leaving.

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DmitriKara
DmitriKara 29 Jun 2016

I just read another article about eviction rising and this was exactly what was on my mind, Housing has become "cat and mouse"...

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DmitriKara
DmitriKara 29 Jun 2016

I am really not surprised. I've seen one too many impudent tenants and in my humble opinion renters have one too many privileges and options to abuse heir landlord in so many ways...

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DmitriKara
DmitriKara 29 Jun 2016

There is still so much uncertainty and I will surely step back and see what's happening before I could make any decisions on my end.

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ChristinaReedUK
ChristinaReedUK 20 Jun 2016

I don't understand why it's always a war between the two sides. Either, way the landlord is probably keeping a detailed inventory and will see the changes you've made. I just don't understand why there...

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