Asked by: David Taylor (Labour - Hemel Hempstead)
Question to the Ministry of Housing, Communities and Local Government:
To ask the Secretary of State for Housing, Communities and Local Government, what steps her Department is taking to protect shared ownership leaseholders from excessive administration fees imposed by housing associations during the resale of their share; and whether she plans to bring forward legislative proposals to ensure that such fees are proportionate to the share being sold.
Answered by Matthew Pennycook - Minister of State (Housing, Communities and Local Government)
Shared ownership landlords are required to publish clear information about the resales process for shared ownership properties on their websites.
They are also required to outline their current selling fee in a ‘Key Information Document’ provided to prospective shared owners before reservation.
Some shared ownership leases will also state the resale fee which can be charged by shared ownership landlords.
The government is considering what more can be done to improve the experience of shared owners.