Owner Occupation

Department for Levelling Up, Housing and Communities written question – answered on 23rd June 2022.

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Photo of Gary Sambrook Gary Sambrook Conservative, Birmingham, Northfield

To ask the Secretary of State for Levelling Up, Housing and Communities, whether his Department has made an assessment of the potential role that gradual homeownership schemes could play in achieving the Government’s ambitions for more people to be able to own their own home.

Photo of Stuart Andrew Stuart Andrew Assistant Whip, Minister of State (Minister for Housing)

The provision of affordable housing is a key element of the Government's plan to end the housing crisis and provide aspiring homeowners with a step onto the housing ladder. Our £11.5 billion Affordable Homes Programme aims to deliver up to 180,000 new homes across the country, should economic conditions allow. Approximately half of these homes will be for affordable home ownership, including Shared Ownership.

In April 2021, the Government launched its new model of Shared Ownership. This new model will make it easier for people to gradually increase the size of their equity stake in their Shared Ownership home, as and when they can afford to do so, all the way up to full ownership, with some limited exceptions.

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