🚫 Too many shared owners are trapped in homes they can no longer afford, with no viable exit route.

Grateful to Select Committee Chair Florence Eshalomi for asking Housing Secretary Steve Reed MP about the long-term affordability of shared ownership.

#UKhousing
#SharedOwnership

🗨️ Baroness Thornhill:

"I was obviously aware of the issues around shared ownership, but what shocked me was the actual costs incurred and the amounts of money lost"

Why is shared ownership marketed as affordable housing? Where is the evidence?

🗨️ "They really are the raw end of the market. They get a raw deal in many different ways"

Baroness Thornhill is right.

❌ Far too many shared owners are trapped in properties they can't sell and can no longer afford.

👉 It is time for the Government to fund buybacks.

🗓️ The Renters' Rights Bill will be back in the House of Lords on 14 October.

Lord Young of Cookham has again tabled an amendment to protect shared owners who are accidental landlords because of the building safety crisis.

This is what the Minister said in Parliament last month.

🗨️ @matthewpennycookmp.bsky.social

"I know from my own efforts to support shared owners in my constituency of Greenwich and Woolwich that those affected by the building safety crisis often face unaffordable costs, often with no viable exit route other than a distressed sale."

#SharedOwnership

🗨️ "I was obviously aware of the issues around shared ownership, but what shocked me was the actual costs incurred and the amounts of money lost"

Baroness Thornhill speaking in the House of Lords yesterday👇

#SharedOwnership
#UKhousing

📻 Eddie Nestor wanted to know how many shared owners staircase, so he pressed Jo Short, from the housing sector, for answers.

🗨️ "The statistics around people staircasing to 100% ... don't exist."

🤔 @matthewpennycookmp.bsky.social why is shared ownership still sold as a step on the ladder?