Select committee: Housing, Communities and Local Government Committee
Recommendation 5
Fifth Report - Shared Ownership
Published 28 Mar 2024
Paragraph 47
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)
Homes England should assess how fit for purpose their initial eligibility and affordability calculator is. As part of this, it should evaluate whether to include a ‘long-term’ function within the calculator to model affordability over 5-, 10- and 15- year periods which take into account the assumption that costs will rise over time for shared owners, through various scenarios. Homes England should also add a means Shared Ownership 39 of calculating how likely it is that shared owners will be able to afford to staircase, given projected costs, and not just assess affordability on the assumption that the shared owner remains on the initial share purchased.
From: Housing, Communities and Local Government Committee, Fifth Report - Shared Ownership (HC 61), paragraph 47, 28 March 2024
Government response
The government responded to the whole report on 23 May 2024 (deadline 28 May 2024).