Rejected petition: Keeping Shared Ownership Truly Affordable for the Long Term
Rejected on
Shared Ownership is sold as an affordable path to homeownership, but many buyers end up paying 100% of costs while owning only a fraction. With soaring service and estate charges and limited access to amenities, the scheme is becoming financially unsustainable for thousands.
I’m urgently calling on the government to introduce retrospective safeguards: cap rent increases to keep homes affordable; enforce transparency on service and estate charges that often rise over 150% in early years; and make staircasing fairer by basing it on the original purchase value. Many shared owners are trapped, unable to buy more shares or sell due to rising costs and restrictive surveyor rules.
Why was this petition rejected?
There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
You may wish to sign this petition which calls for the same action:
Act to mitigate costs & end re-mortgage restrictions for shared ownership homes
https://petition.parliament.uk/petitions/765385We only reject petitions that don’t meet the petition standards.