Lucy Frazer – 2016 Parliamentary Question to the Department for Communities and Local Government

The below Parliamentary question was asked by Lucy Frazer on 2016-03-24.

To ask the Secretary of State for Communities and Local Government, when he plans to undertake the review of shared ownership announced in the report, Proposals to streamline the resale of shared ownership properties, Consultation: summary of responses, published in March 2015.

Brandon Lewis

The Government carried out an internal review of Shared Ownership policy last year. Following this, the Autumn Statement confirmed £4.1 billion for 135,000 new Help to Buy: Shared Ownership starts by 2021. It also raised the income cap on Shared Ownership in England from £60,000 to £80,000, removed restrictions on who can buy Shared Ownership homes, enabled existing shared owners to climb the Shared Ownership ladder and removed restrictions on how many bedrooms Shared Ownership buyers can purchase.

The prospectus for the Shared Ownership and Affordable Homes Programme 2016 to 2021 was launched on 13 April 2016 and invites applications for up to £4.7 billion of funding to increase the supply of new shared ownership and affordable homes.