Select committee: Housing, Communities and Local Government Committee
Recommendation 3
Fifth Report - Shared Ownership
Published 28 Mar 2024
Paragraph 38
Addressed to Ministry of Housing, Communities and Local Government
Housing, Communities and Local Government Committee Shared Ownership All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Recommendation (the committee's words)
Rent to Buy may represent a better value for money product than shared ownership, but there is insufficient evidence to come to a firm judgement on this at present. Both Rent to Buy and Shared Ownership as affordable home ownership schemes need to be better understood in terms of their affordability and how far they enable 100% homeownership. The Government must as a matter of urgency begin collecting evidence, in liaison with mortgage lenders and providers, in order to assess the viability and affordability of Rent to Buy relative to shared ownership. It must also collect and publish data around staircasing trends over time within shared ownership. These data should then inform the proportion of shared ownership and Rent to Buy homes allocated within the next iteration of the Affordable Homes Programme.
From: Housing, Communities and Local Government Committee, Fifth Report - Shared Ownership (HC 61), paragraph 38, 28 March 2024
Government response
The government responded to the whole report on 23 May 2024 (deadline 28 May 2024).