This is why we need a national buyback programme for shared ownership homes that are unmortgageable, unsellable or no longer affordable.
Buybacks should be funded through the Affordable Homes Programme, with homes converted to social / affordable rent to meet local housing need.
📥 If you’re a member, you might want to check your inbox.
And yes, it’s about buybacks again.
Not a member? You can still follow our WhatsApp channel ⬇️
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Six housing associations getting grants to build new homes each received over 100 findings of ‘maladministration’ by the housing ombudsman last year
Read more: trib.al/72Bm3AS
Six housing associations getting grants to build new homes each received over 100 findings of ‘maladministration’ by the housing ombudsman last year
Read more: trib.al/72Bm3AS
Some of our members own just 25% of their home yet face service charges over £8,000 a year. These homes were marketed as “affordable”.
@mtpennycook@tomcopley Our data shows high charges are putting London’s shared owners under unsustainable financial pressure.
Shared owners can pay a mortgage, rent and 100% of service/repair costs while owning only a share. When safety defects make a home unmortgageable or unsaleable, there is no meaningful route out. A buyback would free the resident and retain the home as affordable housing.
To be clear: I wasn’t asking for a briefing on social housing. I’m a constituent trapped in an unsafe, unsaleable shared-ownership home. I asked what will be done for people living this nightmare, including whether the Government will support a funded buyback route.
Sadly, this hope was misplaced. I wrote to @SamanthaDixonMP about being trapped in an unsafe, unsaleable #sharedownership flat, specifically raising buybacks and Clause 13. Her reply was a generic summary of the Bill that did not mention shared ownership or my circumstances once.
So nice to see your support Apsana. Hopefully @SamanthaDixonMP will be following up in a similar way for Chester residents trapped in unsafe and unsaleable shared ownership properties.
There is SO much concern on my feed about 'My First Home'...concerns I share from experience of being trapped in Shared Ownership-another government backed scheme to "help" first time buyers & billed as "affordable".
Some of our members own just 25% of their home yet face service charges over £8,000 a year. These homes were marketed as “affordable”.
@mtpennycook@tomcopley Our data shows high charges are putting London’s shared owners under unsustainable financial pressure.
This is why we need a national buyback programme for shared ownership homes that are unmortgageable, unsellable or no longer affordable.
Buybacks should be funded through the Affordable Homes Programme, with homes converted to social / affordable rent to meet local housing need.
The cost of post-Grenfell safety regulations are being passed on to leaseholders through service charges twice the national average thetimes.com/money/mortgages…
How about sorting out “our unsaleable, unsafe, unremediated,
shared ownership flats first please? So many of us are stuck with no way out and no help from the government. We’re all feeling very ignored. 🙏🏻 #SharedOwnership#CladdingScandal#SocialHousingBill
Please ask him why he is giving more public money to developers while throwing a new generation of first-time buyers under the bus, yet still failing to help shared owners, including those trapped in defective buildings where developers are failing to remediate the problems.
I’m a 50 year old stuck in a worthless unsellable shared ownership Property with flammable cladding.
I thought I was the bees fucking knees when I was finally able to get on the property ladder at 35 …….
⬇️ Six years on, people across the country are still trapped in unsafe homes.
Still waiting for change.
Still waiting for hope.
@andyburnham@AngelaRayner
They never learn.
This appears to be a block with a complex tenure situation, where shared owners are treated as an inconvenience.
But no doubt the press releases will tell us that residents’ safety is, naturally, their “top priority.”