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

Oliver Conway
Oliver Conway 18 May 2017

Making a neat inventory is a good idea, but if the seller is not willing to provide it, can the buyer demand it?

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Bertrand
Bertrand 17 May 2017

First step to nationalisation of the private rented sector IMHO. Nanny state poking their noses into things yet again. I object, as a decent landlord, sometimes having to deal with some pretty awful tenants,...

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Izzy
Izzy 16 May 2017

This is such a great a post. I love the detail you've gone into. It's a very useful article for helping those who are looking at deciding which sector they would like to go into! When I first started investing...

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paul burnham
paul burnham 30 Apr 2017

Jeremy Corbyn's pledge that a Labour government would build 500,000 new council houses must electrify the general election campaign. Reliance on markets and the profit motive has brought huge housing-related...

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CommercialTrust
CommercialTrust 28 Apr 2017

Sadiq Khan?s announcement of an online database of landlords and letting agents who have been convicted of housing offences, appears on face value to be a variation of the already implemented Database

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warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

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Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

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Tony Gimple
Tony Gimple 14 Apr 2017

I'm not at all surprised that so many landlords are still confused about what the tax changes really mean and how it will affect them. In particular, the blind rush to incorporation is leaving landlords...

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MH
MH 13 Apr 2017

You are right that the bank holidays are going to be spoiled in looking for the properties. But people who want to sell their property and looking for the better relocation, they can get benefits of this...

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bnellyb
bnellyb 08 Apr 2017

There will be an exodus of private landlords over the next 5 years as tax changes take effect, private landlords provide an important service to the rental market, why do housing associations and councils...

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Fred Cassman
Fred Cassman 07 Apr 2017

"Make it look like you are at home": often people forget this and share on facebook their location!

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jared townsend
jared townsend 05 Apr 2017

It'll be interesting to see how & if the Government's asset sale regarding mortgages helps

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