Joined August 2020
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I can confirm: shared ownership is not affordable. It's leasehold on steroids.
🆕 The Housing Select Committee has published its report on homeownership affordability.
It concludes:
👉 "Shared ownership (...) is not a long-term affordable option for many of the buyers to whom it is marketed."
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👀 the former CEO of the Regulator of Social Housing as well as the current CEO of Peabody are on the King's Birthday Honours list.
Yet both organisations fail to deliver for social housing residents. The system is still rewarding failure.
gov.uk/government/publicatio…
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This is a snapshot of the most recent satisfaction measures for Peabody.
peabody.org.uk/your-communit…
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Probably the closest a select committee will get to saying the government is, ahem, not telling the truth.
The Committee calls out the gap between the label and the reality of "affordable housing".
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Cladding Victim retweeted
🆕 The Housing Select Committee has published its report on homeownership affordability.
It concludes:
👉 "Shared ownership (...) is not a long-term affordable option for many of the buyers to whom it is marketed."
🧵
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Cladding Victim retweeted
This is what the new Select Committee report says about shared ownership, in full.
MPs note that changes to the scheme do not benefit existing shared owners.
Our position is clear @mtpennycook, the shared ownership scheme should not be marketed as affordable housing.
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Jun 12
The scheme was designed to generate an inflation-busting income stream for HAs.
For the overwhelming majority of shared owners, staircasing is a pipedream.
SO is marketed as affordable housing - but isn't affordable.
We need an investigation into what looks like mis-selling.
Jun 11
The scheme was designed on the basis that buyers would buy additional equity over time to outright ownership. The rent would then not be a issue.
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Cladding Victim retweeted
"The government shouldn’t really need a 73-page report in the current environment to realise that (...) even the sector’s much-coveted shared ownership model is “not a long-term affordable option for many of the buyers to whom it is marketed”."
Jun 12
My look back at the week: Will the government wake up to the fact that ‘so-called affordable housing’ is beyond many people’s reach? insidehousing.co.uk/insight/…
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Cladding Victim retweeted
Jun 12
Ed Daffarn: ‘So little has changed for social housing tenants since Grenfell’ dlvr.it/TT0qHp #ukhousing
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Cladding Victim retweeted
Jun 12
Safe to say that Grenfell survivor Ed Daffarn is not overwhelmingly impressed with the current housing secretary:
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Jun 12
🎯
Jun 12
Safe to say that Grenfell survivor Ed Daffarn is not overwhelmingly impressed with the current housing secretary:
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Cladding Victim retweeted
Jun 12
And they still market this as affordable housing. How does that stack up?
Jun 10
Our service charge on a shared ownership flat went from £1,600 pa to £6,000 pa in just 5 years. It's like a second mortgage now. It also means the flat is unmortgageable.
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Cladding Victim retweeted
Jun 10
Fixed it for you - “Residents are finally able to complain with a sensible amount of effort.”
Jun 9
The Property Ombudsman’s view: Is AI creating resident ‘super-complaints’? dlvr.it/TSxyKD #ukhousing
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Jun 10
Our service charge on a shared ownership flat went from £1,600 pa to £6,000 pa in just 5 years. It's like a second mortgage now. It also means the flat is unmortgageable.
Jun 10
Shared Ownership is marketed as affordable housing.
What's not mentioned in the marketing:
Rent on the unsold equity escalates every year (can easily double over 15 years).
Service charges compound hard — up 55% nationally, 64% in London in a decade.
You’re still liable for 100% of repairs on a home you only part-own.
Thread coming...
#housingcrisis #ukproperty #affordablehousing
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Jun 10
"Improving the performance of existing schemes is potentially very expensive for leaseholders and could render some Londoners liable for thousands of pounds in costs, with no choice but to pay."
⚠️ Avoid blocks with a heat network.
#AssemblyEnvironment has published its report: ‘Zoning: The Heat Networks Puzzle’. The report contains recommendations for stronger price protections for heat network customers in London. Read it in full: london.gov.uk/protect-london…
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Jun 10
"We are in the bizarre situation in London that there are undoubtedly newbuild homes that have been empty so long they've been charged extra council tax"
What impact are empty homes having on housing in London in the midst of a crisis? @ShaunBaileyUK asks the panel 👇
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'Poor beleaguered' UK housebuilder? They cut corners for decades, they are responsible for the building safety crisis, they made billions since the Grenfell tragedy, and they are still dragging their feet to remediate thousands of buildings.
They can go to hell.
Jun 9
In a market where lots of things look expensive and overly popular, spare a thought for the poor beleaguered UK housebuilder bloomberg.com/news/newslette…
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Cladding Victim retweeted
Jun 9
Why would anyone accept For Construction drawings “in good faith” as the As Built drawings for recladding on 18 high rise block after Grenfell?? What is happening on other sites?@ukcag @EOCS_Official
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