What is the purpose of the Levelling Up, Housing, and Communities Committee's investigation into shared ownership?
The committee's inquiry aims to assess whether shared ownership genuinely provides an affordable path to homeownership and identify the obstacles preventing individuals from achieving complete homeownership. Shared ownership faces concerns about its affordability, reselling properties, service charges, maintenance responsibilities, mortgage availability, and the limited number of providers. The inquiry assesses whether these schemes offer good value for potential homeowners, as some argue that shared ownership can complicate the already complex leasehold purchase process, potentially disadvantaging purchasers.