‘No help’ for those in shared ownership

Pure Gym

While the government’s right to buy ‘revolution’ has been welcomed by some, especially tenants, others have concerns about its wider implications.

Lee Smith, who owns 30 per cent of a Town and Country flat in Tunbridge Wells under a shared ownership scheme, believes the scheme favours some over others.

He said: “My flat has increased in value by about £50,000 in the two years since I moved in. If I don’t buy the remaining share soon, it could be out of my reach for ever.

“But because I already own a share, and theoretically have the right to buy the rest at any time, I can’t get any financial help from the government.

“In contrast, people who only rent and haven’t put their hand in their pocket to try and own the property before get help buying all of it.”

Mr Smith also fears the market for selling on shares in such a property will collapse owing to right to buy.

He said: “It’s unfair. I could end up stuck, in a situation where I can never buy, or sell my stake in, the flat I live in.”

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