All Section 106 Homes To Be Subject To New Shared Ownership Model

The government has said that it expects from April that all homes delivered with funding from Section 106 developer contributions will need to follow its new shared ownership model, which allows buyers to purchase smaller initial stakes in properties and staircase in 1% chunks. The new details came as part of a consultation opened by the government today calling for responses to its new shared ownership plan. This includes previously unseen details about how the plan will work, such as how shared owners can buy 1% stakes in their purchased homes, as well as protect new shared owners from hefty repairs bills for the first 10 years. Download the consultation from the GovUK website.

https://www.gov.uk/government/consultations/new-model-for-shared-ownership-technical-consultation?utm_source=480c7867-aaf7-4cb0-8a59-890a109d294b&utm_medium=email&utm_campaign=govuk-notifications&utm_content=daily