Select committee: Housing, Communities and Local Government Committee
Conclusion 24
Fifth Report - Shared Ownership
Published 28 Mar 2024
Paragraph 133
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 ↗
Conclusion (the committee's words)
Shared owners can face considerable difficulty selling shares in their property, which many are prompted to do once rising costs reach unaffordable levels. Many are still waiting on their buildings to be remediated, without which they are legally unable to sell their shares and so end up trapped in properties they can no longer afford. Providers currently have no obligation to buy back shares from shared owners or to allow shared ownership tenants to sublet. We welcome the Secretary of State’s recent 42 Shared Ownership intervention to allow providers more flexibility in allowing shared owners to sublet, and in buying back shares, but these decisions remain entirely at the provider’s discretion and more could still be done.
From: Housing, Communities and Local Government Committee, Fifth Report - Shared Ownership (HC 61), paragraph 133, 28 March 2024
Government response
The government responded to the whole report on 23 May 2024 (deadline 28 May 2024).