Latest News

Buy-to-let mortgages stable despite overall market slowing

13 November 2019

Latest data has revealed an overall slowdown in mortgages despite the stability in the buy-to-let market with an expected further growth of 1 per cent in the next quarter. Read More...

Council of Dragons to advise Government on proptech

11 November 2019

Housing Minister Esther McVey has unveiled a new expert advisory council dedicated to the digital transformation of the property sector. The new Proptech dragons will advise ministers on how to support and grow the sector further, making it easier and cheaper to plan, build and buy new homes. Read More...

Internal communications lapse led to huge fine for estate agent

07 November 2019

Agents are encouraged to review their internal communications procedures, after a prominent Reading estate agent was fined for failing to disclose that a flat was cladded with Aluminium Composite Material (ACM) until minutes after the sale was completed. Read More...

General Election 2019 – Time to Regulate and Reform the Housing Sector

04 November 2019

Ahead of the political parties finalising their manifestos for the forthcoming General Election, Propertymark has published its own ‘manifesto’ calling on the new Government to regulate and reform the housing sector. Read More...

Bournemouth estate agent ordered to pay for misleading customers

01 November 2019

A Bournemouth estate agent must pay out tens of thousands of pounds for misleading its customers and allowing one of its employees to value a house they wanted to own. Read More...

Changes to shared ownership announced

Friday 18 October 2019

Plans for a new national model for shared ownership will help thousands of lower earners step onto the housing ladder. A package of measures to help people on lower incomes get onto the housing ladder have been confirmed by Housing Secretary Robert Jenrick.

Following announcements over the summer, the government is reviewing a new national model for shared ownership to make it easier for people to buy more of their own home, including allowing them to buy in 1 per cent increments.

For tenants in new housing association properties, there will be an automatic right to buy a share of their home from as little as 10 per cent, with the ability to increase that share over time, up to full ownership. The government will work with housing associations on a voluntary basis to determine what offer can be made to those in existing housing association properties, so that the new Right to Shared Ownership is extended as widely as possible. In addition to this, further measures to make all shared ownership homes more affordable have been confirmed. This involves cutting the minimum initial stake from 25 per cent to 10 per cent, giving those on lower incomes the chance to own a stake in their property.

Housing Secretary Robert Jenrick MP said: “Many people want to own their home but can’t see a route towards achieving that goal. This government is determined to help people realise that ambition and boost ownership for thousands of hard-working people up and down the country.

Owning a home is not just about the four walls around you, it’s about investing in your family, saving for the future and putting down roots in a community. These measures announced today will mean more people, including residents living in new housing association homes, are given the opportunity to get on to the housing ladder.”

Mark Hayward, Chief Executive of NAEA Propertymark said: “Now that the measures on shared ownership have been confirmed, thousands of consumers will welcome the opportunity to increase their share of ownership more easily and to simplify the process by which they can sell their homes. 

Whilst we support introducing creative ways for consumers to get on to the housing ladder, the Government must be careful of the unintended consequences that any changes to Help to Buy could have on the rest of the market. In many cases these are not properties that feed into the general marketplace but into a cul de sac with no assistance to upward activity.”

Shared Ownership Guide

Propertymark’s Guide To Shared Ownership explains everything buyers need to know about using shared ownership to get on the property ladder, including these new rights.

Shared ownership