Making home ownership affordable: Discussion paper

A discussion paper has been published today proposing what is called "a new national model for shared ownership to help aspiring first-time buyers."

A statement from the Ministry of Housing, Communities and Local Government (MHCLG) states that, whereas currently homebuyers following the shared ownership route can only increase their equity in chunks of 10 per cent — so called ‘staircasing’ — the government wants to cut this to one per cent. The discussion document says the government also wants to look at all of the ways to support the delivery of more homes, including how the planning system could help bring forward additional sites for homes that local aspiring first-time buyers can afford to buy. The document adds that this already happens with homes provided for shared ownership or for sale at a discount of at least 20 per cent for local first-time buyers. It adds that this could provide a foundation to build on, exploring how to most effectively deliver these homes at a greater scale to ensure communities benefit now and that these homes continue to be affordable for future generations.

Author: MHCLG

Date: August 2019

This item updates DCP section 7.331

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