Discover and read the best of Twitter Threads about #SOWeek2020
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1 It’s Shared Ownership Week. I’d like to share some facts about #sharedownership that are never made clear to buyers at the point of sale. Spoiler alert: you don’t have a foot on the ladder #thread #SOWeek2020 @ThangamMP @timfarron @Labour4Housing @RobertJenrick @ChrisPincher
2 Shared Ownership is NOT ownership. All you have is an assured tenancy for the duration of the lease. If you get into 8 weeks rent or service charge arrears the HA will repossess the entire property. You can lose everything. See Richardson v Midland Heart 2007
3. Nor is it shared. You are responsible for 100% of the maintenance of your property, regardless of the share that you own, and if it’s a flat, you and your neighbours will pay a service charge for 100% of the maintenance of the building.
