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The Shared Owners' Network
330 posts
The Shared Owners' Network
@SharedOwnersNet
Uniting shared owners. We campaign to make our homes affordable & our landlords accountable. Join ➡️ https://t.co/leaKDSOao5 #SharedOwnership
United Kingdom انضم Mayıs 2024
39 يتبع152 المتابعون
The Shared Owners' Network أُعيد تغريده
Live in 25 mins ⏰
Follow me here to join in: @peteapps" target="_blank" rel="nofollow noopener">substack.com/@peteapps
End Our Cladding Scandal@EOCS_Official
📆 This Friday at 12pm We’re joining journalist @PeteApps for a live Substack chat on the building safety crisis. We’ll discuss what’s going wrong and how Labour could fix it. 🔗 Link and how to join in the reply.
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The Shared Owners' Network أُعيد تغريده
📆 This Friday at 12pm
We’re joining journalist @PeteApps for a live Substack chat on the building safety crisis.
We’ll discuss what’s going wrong and how Labour could fix it.
🔗 Link and how to join in the reply.
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And how many of those are “affordable” shared ownership resale flats that no eligible buyer can actually afford, @tomcopley?
Philip Oldfield@SustainableTall
London has built lots of flats…but few people want to buy them Since 2014, some 20,000 flats have been completed in Wandsworth. But nearly 40% of modern flats there have sold at a loss in the last 5 years archive.is/A3rfy
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The Shared Owners' Network أُعيد تغريده
Next Tuesday we continue our scrutiny of the Draft Commonhold and Leasehold Reform Bill, hearing from witnesses across the financial and property sectors as well as those representing leasehold and shared ownership advisory bodies.
Tuesday 17 March 📅
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How many shared owners are trapped in buildings under 11m, facing life-changing bills @mtpennycook @SamanthaDixonMP?
End Our Cladding Scandal@EOCS_Official
Nearly 8 months since @UKLabour promised funding for buildings under 11m. Details due last September. Still missing. ⏳ Meanwhile leaseholders in “low-rise” blocks are getting life-changing bills for problems they didn’t cause. History repeating itself. Change? What change?
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The Shared Owners' Network أُعيد تغريده
📣 Shared ownership homeowners – we’d like to hear from you.
Join a short online research interview to share your experience.
👉 Register: portal.consentkit.com/388ea9eb-06da-…
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Follow our WhatsApp channel:
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The Shared Owners' Network أُعيد تغريده
The current rate of inflation is about 3%. My rent has increased by 5.76% and my service charge by 8.98%. Talk to me again about how shared ownership is affordable housing. @mtpennycook @MayorofLondon @tomcopley
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@archaeologic_al @TheMurkyDepths This is sound advice. Our data consistently shows that shared owners living in blocks where the housing association is not the freeholder pay significantly higher service charges.
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@SharedOwnersNet @TheMurkyDepths I have two pieces of advice I give to anyone who asks about SO: 1) Don't, and 2) if you must, then make sure your HA is also the freeholder, otherwise you'll be even more screwed by uncontrollable Service Charges.
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Shared ownership is marketed as “affordable” housing.
£1,000 a month in service charges.
Rent and mortgage on top.
Affordable for who?
MrCladding@MrCladding
Abuse. Utter abuse.
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Important question for @mtpennycook: how many shared ownership flats have service charges over 1% of their value?
Hamptons Research@Hamptons1869
37% of flats now have a service charge exceeding 1% of the property’s value. This can be a barrier to buyers, as some lenders are tightening criteria or even excluding buildings where charges are a high proportion of value. (4/5)
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The Shared Owners' Network أُعيد تغريده
Another thing no one ever mentions: shared owners in blocks like mine pay higher service charges than private leaseholders.
Why? Because the housing association slaps a “management fee” on top of the managing agent’s costs, despite not actually managing anything.
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The Shared Owners' Network أُعيد تغريده
The Pre Legislative scrutiny of the draft Commonhold & Leasehold bill kicks off tomorrow Tuesday 3 March 2026.
Watch in person at the House of Commons or tune in from 9.45am. We will be hearing from campaigners & also hearing from the former Sec of States for Housing.
Housing, Communities & Local Government Committee@CommonsHCLG
We're questioning leasehold and ‘fleecehold’ campaigners and the @RFAssociation as part of our scrutiny of the draft Commonhold and Leasehold Reform Bill. @AngelaRayner and @michaelgove will also be giving evidence. Watch from 9.45am on 3 March: committees.parliament.uk/work/9587/prel…
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@H___AFC @LostInSW19 That's probably too long for a response on X, but problems with service charges is something most of our members complain about.
Feel free to join our network using the form -see link in our bio- and use the field provided to explain what's going on.
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@SharedOwnersNet @LostInSW19 @mtpennycook Thanks for that. Whats ur thoughts on liability of the housing association causing monetary damages from double charging, charging for things not being provided and over estimating charges and the impact on not being able to staircase? gone to the ombudsman but thinking of suing
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@LostInSW19 @SharedOwnersNet @mtpennycook How many lenders don’t have the 1% rule? Had this exact issue when trying to staircase
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@H___AFC @LostInSW19 @mtpennycook Difficult to know as not all lenders publish their full criteria. But it's increasingly common.
Have a look at the UK Finance Lenders’ Handbook. Use their search tool. Pick your region, lender and 'Part 2' for service charge thresholds.
lendershandbook.ukfinance.org.uk/home
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@karlfranz83 As you say, RTM can be particularly challenging in mixed-tenure blocks, especially where a housing association holds a headlease over a high % of units.
This is often overlooked, along with the additional issues that shared owners in those blocks continue to face.
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@SharedOwnersNet Government will talk about making RTM easier knowing full well that 'affordable' blocks like this will never be able to exercise it due to the mix of social housing/intermediate rent/shared ownership. Service charge fraud isn't going away, it's just zeroing in on these blocks.
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@kellowaves @Scones40 @MrCladding The overwhelming majority of shared owners cannot afford to staircase to 100%.
Available data suggests that only 3% achieve that.
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@Scones40 @MrCladding Do you know how long it takes to gain 100% ownership of most shared ownership flats? Its not something that happens quickly and most people want to sell up before they have 100%.
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@jessicahelloo1 Unfortunately, that is not the case. Shared owners pay 100% of the service charge, even if they own a 10% share.
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My thing is if it is shared ownership. Why are they paying the FULL amount of service charge. As it is a shared ownership they should pay the amount they own? Like if it’s 30% then they pay that? (Serious question)
MrCladding@MrCladding
Abuse. Utter abuse.
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