Issue - meetings

To consider the report that seeks approval of the proposed new Shared Ownership Strategy.

Recommendation:

To approve the proposed Shared Ownership Strategy

The Committee considered a report on the Shared Ownership Strategy from the Stephanie Green, Housing Strategy & Policy Officer and presented by the Joint Head of Community and Wellbeing, Karen Sinclair, that sought approval to adopt the revised Shared Ownership Strategy.

Karen advised the Committee that the existing Shared Ownership Policy was last reviewed in 2019 and that it required updating.

The Government had recently introduced a new model of shared ownership that would operate alongside the Affordable Homes Programmes for the next five years. Karen stated that whilst this was welcomed and provided potential residents with another option to afford to purchase a property the Council’s preference would lean towards affordable homes. The Shared Ownership Scheme would be administered by a local agent and not the Council.

A provision had been written into the revised scheme that provided housing suppliers with specific guidance on how the properties would be marketed. The developer would be required to concentrate marketing within local areas for the first three months to attract Spelthorne residents.

The Committee resolved to approve the adoption of the revised Shared Ownership Policy.