Consultation outcome

New model for Shared Ownership: technical consultation

• From: Ministry of Housing, Communities & Local Government (2018 to 2021)
• Published: 19 November 2020
• Last updated: 1 April 2021 — See all updates

This was published under the 2019 to 2022 Johnson Conservative government

Applies to England

This consultation has concluded

Read the full outcome

New model for Shared Ownership: technical consultation - summary of responses

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Detail of outcome

Summary of responses and the government response to the technical consultation seeking views on how best to implement the new model for Shared Ownership.

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Original consultation

Summary

We are seeking views on the implementation of the new model for shared ownership.

This consultation ran from
8am on 19 November 2020 to 11:45pm on 17 December 2020

Consultation description

The government is introducing a new model for Shared Ownership. This model will:

1. Reduce the minimum initial share from 25% to 10%
2. Introduce a new gradual staircasing offer, to allow people to buy additional shares in their home in 1% instalments with heavily reduced fees
3. Introduce a 10-year period during which the shared owner will receive support from their landlord to pay for essential repairs
4. Give Shared Ownership leaseholders (shared owners) more control when they come to sell their home

This consultation seeks to capture views on how to best implement the new model for Shared Ownership to ensure it can be smoothly adopted by providers and lenders, and effectively supports aspiring homeowners.

Documents

New model for Shared Ownership: technical consultation

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Published 19 November 2020
Last updated 1 April 2021 + show all updates

1. 1 April 2021

   Added Summary of responses and the government response to the technical consultation seeking views on how best to implement the new model for Shared Ownership.

2. 19 November 2020

   First published.