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.”

Leave Your Comment

Your email address will not be published.
Required fields are marked *



Latest Comments

Paul
Paul 25 May 2016

Estate agents are pathetic when it comes to fees. They have this 'I had to do it at 1% because that's what the others were quoting' mentality. We are the most expensive agents in our area, charging double...

view article
HMO Midlands Landlady
HMO Midlands Landlady 24 May 2016

Tenants disappearing into the night is common from shared houses ( licensed and un-licensed HMO's) often when they owe considerable rent- they remove all their possessions, leave key in room and tell other...

view article
CommercialTrust
CommercialTrust 20 May 2016

With the bulk of the market controlled by large developers, profit rather than necessity determine the pace at which homes are built. There are hundreds of thousands of plots that have planning permission...

view article
Johna
Johna 20 May 2016

"Easier said than done" is what I would say. Of course, it would be more than great to have more in quality and affordability, but I do not trust talk anymore.. What is said is not what is happening.

view article
Johna
Johna 20 May 2016

in my humble opinion being fair like THE most important! I myself have had bad experience with unfair landlords... not to mention that I know how to do a proper end of tenancy cleaning since I am a fantastic...

view article
richardrawlings
richardrawlings 18 May 2016

NB - even if we doubled our commission levels in the UK, we'd still be by far the cheapest agents in the entire world.

view article
Agent_PeeBee
Agent_PeeBee 18 May 2016

Clueless. Someone needs to take these people's computers away from them so they can do no more harm than they already have.

view article
richardrawlings
richardrawlings 18 May 2016

Nonsense! The cost of selling a house nowadays has little bearing on the fees charged. Don't believe your own spin on this. Fees have spiralled down to pathetic levels in areas where weak agents have allowed...

view article
Simon Oliver
Simon Oliver 16 May 2016

The best solution is to buy a property that has built-in income generating potential: a nice house with a couple of gites in the grounds is a good start. In France, the rune of thumb is that one 2-bedroomed...

view article
WPD
WPD 12 May 2016

I suggest the answer is to have the notary system being one legal person who represents both parties. Having experienced it a couple of times in France it was a dream compared to our dysfunctional system....

view article
warren
warren 03 May 2016

It's enough to make me weep into my Pimm's :(

view article
james anderson
james anderson 03 May 2016

The sad demise of the croquet lawn...

view article

Related stories

More articles from Landlords