Shared ownership plans fundamentally flawed - comment

Professional Adviser
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The various political party's plans to increase social housing and widen shared ownership schemes have provoked comment that they are all are fundamentally flawed.

David Castle, managing director of Council Tenants Mortgages, says: In 1989 we persuaded the then Housing Minister, Sir George Young to allow the release of Capital Receipts to be ring fenced for new housing projects. And while what the Deputy Prime Minister is advocating sounds good on paper - 100% of Capital Receipts to be allowed for newbuild - in reality Councils will only get 20% of the right to buy capital and can only use 10% of that per annum! The Government, the Liberal Democrats and the Tories are all advocating shared ownership schemes, yet the Government is scrapping Ren...

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