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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Latest Comments

MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

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ajay
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How is the "robust evidence" looking now?

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NathanG 20 Mar 2017

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You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

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Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

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Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

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Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

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James Powell
James Powell 27 Feb 2017

This is a very good news.

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DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

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Matt
Matt 20 Feb 2017

Is this fake news?

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