Forum Brief: Housing Report

The government's low cost home ownership taskforce has recommended improvements in shared ownership.

The report backs reforming and streamlining the current options into a new "home ownership options programme" to be supported by the Housing Corporation.

Forum Response: Local Government Association

Councillor Ruth Bagnall, chair of the LGA's housing executive, said: "The introduction of a simplified framework of low-cost home ownership programmes, as recommended by the task force, would help widen the opportunities for those on low or average incomes to achieve their aspiration of owning a house.

"The LGA welcomes the task force's overall approach, which aims to safeguard resources for social renting while improving access to home ownership through new ways of increasing the supply of affordable homes.

"The report will encourage local authorities to develop an informed picture of their area's home ownership needs by producing local and regional housing strategies

"The task force has made strong recommendations for recycling public subsidy into housing, so that future generations of householders see the benefit too, and public money is put to most efficient use.

"But local authorities will want to decide what form the investment of housing sales receipts will take.

"Some authorities will use receipts to support home ownership programmes, but others will have different investment priorities. Local authorities should be free to exercise different judgements based on their evaluation of local housing needs."

Forum Response: Council of Mortgage Lenders

The CML's director general Michael Coogan said: "The government should sit up and take notice of this report. It represents a real opportunity to take an imaginative approach to the problems currently facing first-time buyers.

"In particular, low cost home-ownership has the potential not only to help more people on to the property ladder but also to offer new alternatives for borrowers who get into difficulty with their mortgage.

"We have been working for many years for an improved safety net for vulnerable borrowers. Low cost home-ownership could be an important strand of this.

"Today's report should be matched by government imagination, commitment and funding to deliver the dream of home-ownership to everyone that aspires to it."

Forum Response: Shelter

Adam Sampson, director of Shelter and chair of a sub-group of the Task Force, said: "Low cost home ownership has an important part to play in meeting housing need.

"We welcome the reforms outlined in the report. As the Task Force recognised home ownership must be sustainable.

"These reforms must therefore be taken forward alongside improvements to existing safety nets and insurance products - last week's rise in interest rates provided a timely reminder of the need to get on with this. "