The UK government's proposed national model for shared ownership could help more people on to the property ladder. The measures will give social tenants moving into a home the option to buy a minimum stake of 10%, reduced from 25%, and allow them to purchase the property in 1% chunks, rather than 10% at once. The scheme would mean residents could own a share of their home with a deposit as low as £2,000 ($2,600). But critics say that this is not enough because it does nothing about how much money landlords can charge tenants.
The UK government's proposed national model for shared ownership could help more people on to the property ladder. The measures will give social tenants moving into a home the option to buy a minimum stake of 10%, reduced from 25%, and allow them to purchase the property in 1% chunks, rather than 10% at once. The scheme would mean residents could own a share of their home with a deposit as low as £2,000 ($2,600). While all new housing association properties will automatically be part of the model, the government intends to work with associations on existing housing as well.