This commitment from the Chancellor will have the positive impact of raising the profile of Shared Ownership, which has traditionally been an immature home ownership market, leading to greater uptake and seeing it become a more mainstream way of owning property.
Commenting on the Chancellor’s commitment to deliver 135,000 Help to Buy - Shared Ownership homes as announced in the Autumn Statement 2015, Chris Wilson, Head of Social Housing for KPMG, said:
“This commitment from the Chancellor will have the positive impact of raising the profile of Shared Ownership, which has traditionally been an immature home ownership market, leading to greater uptake and seeing it become a more mainstream way of owning property.
“Relaxing or removing previous restrictions – such as local authorities’ rights to set additional eligibility criteria – will increase the flexibility of the Shared Ownership and widen access, meaning a greater number of people can benefit.
“This is positive news for housing associations, too, who are already heavily involved in providing Shared Ownership. They may be able to use their experience here to help counteract the knocks they’ve received recently as a result of various reforms.
“The only potential fly in the ointment is that mortgage lenders have traditionally been more reluctant to finance these types of transactions, but hopefully they will become more active as Shared Ownership becomes more widespread.”
For press enquiries, please contact:
Caitlin Allen, on behalf of KPMG Corporate Communications
Mobile: +44(0)78 1440 3000
KPMG Press Office:
Tel: +44 (0) 207 694 8773
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
KPMG has launched a state of the art digital platform that enhances your experience and provides improved access to our content and our people, whatever device you are on.