Shared ownership – Levelling Up Committee begins evidence sessions
On Monday, the Levelling Up, Housing and Communities (LUHC) Committee begins the public evidence sessions for its inquiry on shared ownership.
Likely areas of questioning
The cross-party group of MPs will question stakeholders (full witness list included further below) from across the sector, including academic experts in affordable housing and registered providers of shared ownership products.
The MPs are likely to examine both the experiences of users of shared ownership products, including examining challenges with affordability, as well as provider views on shared ownership products, how they may be improved, and how shared ownership fits into the Government’s wider plans for affordable housing.
The shared ownership model enables people to buy a share in a property, usually from a Housing Association, and pay subsidised rent on the rest. Sometimes known as ‘part buy, part rent’, shared ownership requires a smaller deposit and mortgage, making it, in theory, a more affordable route into home ownership.
This will be the first of two sessions; the second session will give members the opportunity to put questions to a Minister from the Department of Levelling Up, Housing and Communities on shared ownership based on the written and oral evidence received to date as part of the inquiry.
The LUHC Committee’s inquiry will be focussing on the Shared Ownership scheme in England.