Shared ownership (artikel in het Engels)
In de huidige economische crisis, zijn huurders in Engeland met een right to buy optie, niet meer bereid te gaan voor koop.
In het tweede artikel blijkt dat shared ownership niet direct een vervolgstap van lage inkomensgroepen van huur naar koop.
artikel 1.
Social tenants would prefer to continue renting rather than exercise their right to buy, according to a survey.
Research from the Tenant Services Authority found only 12 per cent of social renters wanted to buy their own home, either through Right to Buy or on the open market, compared to 32 per cent a decade ago.
The study also found 92 per cent of shared owners had not bought more than their initial stake since they purchased their homes.
Levels of satisfaction were so high that 80 per cent said being a social tenant was better than owning your own home or living in the private rented sector.
Nearly three quarters of tenants told the TSA they wanted to stay in the sector for the next 10 years and more than a quarter expected their children to move into social renting when they left home.
Peter Marsh, chief executive of the TSA, said: ‘It’s encouraging to see that, overall, 81 per cent of tenants are satisfied with their landlords, a small steady rise over the past 10 years.
‘This is most evident in satisfaction about the quality of homes and neighbourhoods, which reflects the significant investment in improving existing homes over the past decade.’
artikel 2.
Shedding light on shared ownership
03/07/2009
The G15 represents London’s largest housing associations, many of which are major providers of shared ownership homes. We were disappointed by Andrew Heywood’s article (Inside Housing, 26 June) because although shared equity might be more attractive to lenders, it simply does not help the same low-income households into affordable homeownership.
He raises a number of points that need to be cleared up:
The Communities and Local Government department has confirmed with the Financial Services Authority that shared ownership loans are treated no differently to any other mortgage, in terms of capital that has to be assigned by lenders where the loan represents a high proportion of value. Shared ownership represents such a small part of the mortgage market that this is hardly a significant point.
The asset protection scheme introduced by the government to help encourage lending for housing also offers protection.
Shared ownership is not especially risky to lenders. Tenant Services Authority data shows that in 2007/08 large social landlords owned nearly 88,000 grant-funded shared ownership homes. Only 246 of these were repossessed by lenders and nine by housing associations. This is insignificant when compared to mortgage repossessions involving first-time buyers and buy-to-let borrowers.
Shared ownership and shared equity are aimed at very different markets. The Homes and Communities Agency’s affordability indicator shows that shared equity typically requires earnings in London that would have to be 75 per cent higher than those needed for a 25 per cent shared ownership purchase.
The G15’s calculations show that to convert the shared ownership programme to shared equity and still be able to help the same people would require double the grant rate.
We have just agreed for legal and other advice to be sought jointly by the Council of Mortgage Lenders, HCA and G15 in order to explore how the model shared ownership lease can be updated to make lending more attractive.
We will continue to make it possible to offer a product that has helped more than 100,000 households to become homeowners since its introduction nearly 30 years ago.
We do hope the CML and its members will show some corporate social responsibility by helping lower income people to become home owners, especially when some of them have been rescued from potential insolvency by public money.
Stephen Howlett, chair, G15
In het tweede artikel blijkt dat shared ownership niet direct een vervolgstap van lage inkomensgroepen van huur naar koop.
artikel 1.
Social tenants would prefer to continue renting rather than exercise their right to buy, according to a survey.
Research from the Tenant Services Authority found only 12 per cent of social renters wanted to buy their own home, either through Right to Buy or on the open market, compared to 32 per cent a decade ago.
The study also found 92 per cent of shared owners had not bought more than their initial stake since they purchased their homes.
Levels of satisfaction were so high that 80 per cent said being a social tenant was better than owning your own home or living in the private rented sector.
Nearly three quarters of tenants told the TSA they wanted to stay in the sector for the next 10 years and more than a quarter expected their children to move into social renting when they left home.
Peter Marsh, chief executive of the TSA, said: ‘It’s encouraging to see that, overall, 81 per cent of tenants are satisfied with their landlords, a small steady rise over the past 10 years.
‘This is most evident in satisfaction about the quality of homes and neighbourhoods, which reflects the significant investment in improving existing homes over the past decade.’
artikel 2.
Shedding light on shared ownership
03/07/2009
The G15 represents London’s largest housing associations, many of which are major providers of shared ownership homes. We were disappointed by Andrew Heywood’s article (Inside Housing, 26 June) because although shared equity might be more attractive to lenders, it simply does not help the same low-income households into affordable homeownership.
He raises a number of points that need to be cleared up:
The Communities and Local Government department has confirmed with the Financial Services Authority that shared ownership loans are treated no differently to any other mortgage, in terms of capital that has to be assigned by lenders where the loan represents a high proportion of value. Shared ownership represents such a small part of the mortgage market that this is hardly a significant point.
The asset protection scheme introduced by the government to help encourage lending for housing also offers protection.
Shared ownership is not especially risky to lenders. Tenant Services Authority data shows that in 2007/08 large social landlords owned nearly 88,000 grant-funded shared ownership homes. Only 246 of these were repossessed by lenders and nine by housing associations. This is insignificant when compared to mortgage repossessions involving first-time buyers and buy-to-let borrowers.
Shared ownership and shared equity are aimed at very different markets. The Homes and Communities Agency’s affordability indicator shows that shared equity typically requires earnings in London that would have to be 75 per cent higher than those needed for a 25 per cent shared ownership purchase.
The G15’s calculations show that to convert the shared ownership programme to shared equity and still be able to help the same people would require double the grant rate.
We have just agreed for legal and other advice to be sought jointly by the Council of Mortgage Lenders, HCA and G15 in order to explore how the model shared ownership lease can be updated to make lending more attractive.
We will continue to make it possible to offer a product that has helped more than 100,000 households to become homeowners since its introduction nearly 30 years ago.
We do hope the CML and its members will show some corporate social responsibility by helping lower income people to become home owners, especially when some of them have been rescued from potential insolvency by public money.
Stephen Howlett, chair, G15
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