Legal & General has promoted the value of shared ownership at an event in London today.
Legal & General has promoted the value of shared ownership at an event in London today.
L&G said the sector is currently underserved and misunderstood and should be part of mainstream mortgage advice – meaning an education piece is required.
Today’s event brings together brokers, lenders and providers to discuss the government’s measures on shared ownership and funding which could equate to 30,000 shared ownership homes per year.
Stephen Smith, director, Legal & General housing partnerships, said: “Our hope is that this event will drive discussions on how the industry can work together to develop a strong shared ownership sector, providing a platform for conversations on how the scheme can be promoted and used to its full advantage.
“It is vital that housing associations and mortgage lenders collaborate to promote the benefits that the initiative can have for all. Due to the continued shortage of housing in the UK any scheme that can help more people get on the property ladder and achieve their aim of owning their own home, should be welcomed and supported.”
Speakers at the event include representatives from the Department of Communities and Local Government, the Chartered Institute of Housing, and mortgage trade bodies such as the Council of Mortgage Lenders and the Building Societies Association.
Gavin Smart, deputy chief executive of the Chartered Institute of Housing, added: “The government’s ambition to drive the growth of shared ownership is very welcome – doubling the number of new homes built every year could help thousands of people who have been priced out of a decent place to call their own.
“We’re really pleased to be working with Legal & General and Orbit to bring housing associations and lenders together to help achieve that.”
