Shared ownership – Levelling Up Committee questions Government Minister
On Monday, the Levelling Up, Housing and Communities (LUHC) Committee questions Minister Penn for its inquiry on shared ownership.
The cross-party group of MPs are likely to question the Minister on the experiences of both users and providers of shared ownership products, including challenges with affordability, and how shared ownership products may be improved. MPs are also likely to explore how shared ownership fits into the Government’s wider plans for affordable housing.
Meeting details
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 than buying on the open market.
See the shared ownership inquiry full terms of reference for further information. You can also view the written evidence submissions the Committee has received as part of this inquiry on the Committee’s website.
The LUHC Committee’s inquiry is focussing on the shared ownership scheme in England.