Is the government shared ownership initiative accessible and financially viable for the consumer in the Portsmouth area?

Swarray-Deen, Rebecca (2010) Is the government shared ownership initiative accessible and financially viable for the consumer in the Portsmouth area? BSc dissertation, University of Portsmouth.

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    The suitability to the consumer of the provision of affordable housing through shared ownership has not been significantly scrutinised. It remains to be seen whether or not these schemes have been successful from a purchaser’s perspective, and whether the government have accomplished the provision of homes that are affordable for those who would not otherwise have been able to get a foot on the ‘property ladder’. This research aimed to evaluate whether the government’s objectives of providing Affordable Housing in the Portsmouth area, through shared ownership schemes, are suitable to the consumer in relation to accessibility and financial viability. In order to determine this, the affordability of shared ownership was investigated in relation to other forms of tenure in the area. There was an emphasis on deciding whether it is in the consumer’s best financial interest to purchase a share of the property, in relation to entering into other tenures. The target group for provision of affordable homes was scrutinised, in order to ascertain whether they are truthfully being included. Overall, the general strengths and weaknesses of the shared ownership scheme, to the consumer, were evaluated from a consumer’s point of view. The findings pointed towards the fact that affordability is unlikely to be a key factor in the pros and cons of the purchaser’s decision. However the form of tenure available depends very much on the consumer’s ability to supply the increasing capital outlay necessary for elevated equity shares. The primary evidence gathered suggests that the government’s intended target group for their affordable housing initiative is being disregarded to a large extent. Furthermore, the suitability of shared ownership is largely dependent on consumer motivation. It was also confirmed that on the whole, a major obstacle in the purchase of such a property has been the deficit of information provided by the housing association, solicitor or mortgage lender.

    Item Type: Dissertation
    Departments/Research Groups: ?? EDAM ??
    Depositing User: Jane Polwin
    Date Deposited: 20 Jan 2011 12:49
    Last Modified: 28 Jan 2015 11:16

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