Property: Shared Ownership
Debate between Viscount Younger of Leckie and Baroness Watkins of Tavistock
Baroness Watkins of Tavistock
To ask Her Majesty’s Government whether, under their shared ownership scheme, a property owner can let out a room to another person, and if not, why not.
Viscount Younger of Leckie (Con)
My Lords, shared ownership has an important role to play in helping those who aspire to home ownership but may be otherwise unable to afford it. Grant-funded shared-ownership leases do not allow subletting, other than in exceptional circumstances, to prevent any use for commercial gain and to ensure that affordable homes are there for those who genuinely need them. However, individual shared owners are still able to take in a paying guest or lodger.
Baroness Watkins of Tavistock (CB)
My Lords, I thank the Minister for his Answer but would like some further clarification on why the subletting cannot be done up to a maximum of £7,000 a year. We have young people in London working in the public sector who are totally unable to afford the overheads of facility costs and council tax but who are keen to get into shared ownership.
Viscount Younger of Leckie
Shared-ownership leases prohibit subletting by the leaseholder, as mentioned earlier, to protect public funds and to ensure that applicants are not entering shared ownership for commercial gain. Landlords can make an exception in exceptional circumstances and they have to consider such requests on a case-by-case basis.