Shared ownership pilot scheme

June 3, 2015

Southern Housing Group has partnered with the Greater London Authority to establish ‘Second Steps’, a service which offers current shared owners who can’t afford to buy outright the chance to purchase a home on the open market on a shared ownership basis.

According to a report recently posted online Sandy Macmillan, head of sales and marketing at Southern Housing Group, said: “We’ve designed this new offer to help our shared owners buy a more suitable home that still remains affordable.

“At Southern we think that shared ownership can no longer be considered a purely transitional tenure or ‘stepping stone’ to full ownership. Second Steps will provide much needed support for existing shared owners wishing to move on.”

The GLA is providing the funding to enable Southern Housing Group to purchase 50 properties for the pilot scheme, the second steps scheme will only be available to existing shared ownership clients in London, there are similar products being developed by other providers in other parts of the country which will improve mobility for shared owners.

As the gap between incomes and house prices continues to grow, shared ownership is the sensible way forward for low to middle income households.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

UK house prices growing by 2.5% according to Halifax

Nathan Emerson, CEO of Propertymark: “This slight dip in house prices will likely have been influenced as a direct consequence to the current state of the global economy. There will always be a need for people to move house regardless of international trading relations; however, many aspiring or current homeowners will no doubt be discouraged…
Read More →
Breaking News

UK house prices dip slightly in May, but market remains steady

Average property price now £296,648 compared to £297,798 last month Annual rate of growth slows to +2.5% from +3.2% in April Overall house prices have remained stable so far this year Northern Ireland continues to lead annual price growth in the UK Amanda Bryden, Head of Mortgages, Halifax, said: “Average UK house prices fell by…
Read More →
Breaking News

Estate Agent Content

Do you think that your estate agency / property business requires content? Is content marketing still a thing in 2025? Are you concerned if anyone will read your words? Is it worth investing in estate agent content? Businesses with blogs generate 67% more leads than those without. As competition for attention online increases it remains…
Read More →
Breaking News

The cost of voids rises by £200 for England’s landlords

The latest analysis by Dwelly, one of the UK’s leading lettings acquisition and success planning experts, has found that landlords have been hit with a 26% increase in the cost of void periods in the past year, equivalent to lost income of almost £200. Dwelly analysed average void period data from March 2024 and March…
Read More →
Breaking News

Breaking Property News 5/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X. Demand Rises for Housing and Infrastructure Projects Rising demand for housing, infrastructure and energy projects across Wales has driven continued growth at Lichfields’ Cardiff office, which this year marks 25 years in the capital. The team of 17 planning professionals is one of the largest…
Read More →
Breaking News

Construction continues to enjoy a season in the sun

Underlying performance is on the rise during Q.2 2025 Today, Glenigan, one of the construction industry’s leading insight experts, releases the June 2025 edition of its Construction Index. The Index focuses on the three months to the end of May 2025, covering all underlying projects, with a total value of £100m or less (unless otherwise…
Read More →