#SharedOwnership: A Manifesto for Change (10 proposals)
1. Full transparency from housing associations re long-term (full life cycle) costs
2. Jargon busters & other explanatory material to include lease extension, 80-yr threshold, marriage value & Zucconi
#SharedOwnership: A Manifesto for Change (10 proposals)
3. Lease length & yrs remaining included in sales particulars
4. Tenure (leasehold/assured tenancy) included in sales particulars
5. Provision of accurate, complete & honest info by marketing teams
#SharedOwnership: A Manifesto for Change (10 proposals)
6. Annual statement of yrs remaining in total & till 80-yr threshold
7. Policies in event of death of shared owner clearly communicated to all shared owners
8. Long-term shared owners involvement in planning/decision-making
#SharedOwnership: A Manifesto for Change (10 proposals)
9. Independent monitoring & research (not funded by housing associations)
10. Conveyancing firms & solicitors to provide best practice generic info on tenure, regardless of imminence of 80-yr threshold

• • •

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More from @ResourcesShared

18 Jun
When I bought a 50% share in my #sharedownership flat in 1999 the flat was valued at £60k in total, so my initial mortgage was £30k. When I purchased the 2nd 50% share it cost around £80k. That's £110k so far. 1/3
In 2020, I still have £40k outstanding on the mortgage for the 2nd share, and my lease extension could cost a further £30k. So, 21 years after buying the initial 50% share of my #sharedownership flat, I still owe more than the flat was worth when I first moved in. 2/3
A #sharedownership flat worth £60k when I moved in could end up costing me around £140k. How is this #affordablehousing? How is it justifiable? 3/3
#ukhousing
@LKPleasehold @LondonAssembly @NLC_2019 @mhclg
Read 4 tweets

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