On 19th July the Levelling Up, Housing and Communities Committee (a cross-party Commons Select Committee of MPs) announced an inquiry to “examine the challenges associated with shared home ownership schemes”, including:
- barriers to achieving full home ownership
- whether shared ownership is genuinely an affordable route to owning a home
- challenges around reselling
- affordability issues such as service charges and maintenance responsibilities
- questions around mortgage availability and the limited range of providers
Be sure to read the full LUHC announcement.
The Committee is requesting views and answers to the numerous questions posed in a call for evidence.
The deadline for submitting evidence is Thursday 14th September 2023.
No doubt Devonshires’ RP clients will have many strongly held views that they will want to share with the Committee. If you want to discuss any of the issues raised in the meantime please contact Stavrina Tofallis, Head of Residential Property, or Dominic Bauers, Solicitor in the Development Sales Team.