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Government launches consultation on a new model for shared ownership

The government has published a technical consultation seeking views on the implementation of the new model for shared ownership. The consultation seeks to capture views on how best to implement the new model for Shared Ownership to ensure it can be smoothly adopted by providers and lenders, and effectively support aspiring homeowners.

As part of the new shared ownership model, the government has revealed that the vast majority of homes funded through the Affordable Homes Programme (AHP) will be subject to the shared ownership Right to buy. The Right to Shared Ownership (RTSO) will give the majority of social tenants living in AHP homes the opportunity to purchase a share starting from a minimum of a 10% stake in the property.

The new model will be more consumer-friendly and will better enable social tenants to buy more of their property and eventually reach full ownership.

The key changes to shared ownership are:

These changes are scheduled to be introduced in April 2021 when the AHP begins.

The deadline for responding to the consultation is 17th December 2020 at 11:45 pm.

You can respond to the consultation in one of three ways:

 

More information

LEASE is governed by a board, appointed as individuals by the Secretary of State for the Department for Levelling Up, Housing & Communities.

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