Plumlife, part of the Manchester based Great Places Housing Group, is supporting a national campaign to promote shared ownership in the run up to the next election.
Nineteen of the largest providers of low cost home ownership in the country have joined forces to urge MPs of all parties to support the building of more shared ownership properties.
Plumlife deputy chief executive Matthew Harrison, said: “Part of this campaign involves banishing some of the myths surrounding shared ownership and today I'd like to banish the myth that "it's too complicated!"
"There is no evidence that customers find shared ownership complicated to understand and it’s the shared ownership customers who are most important in this.
"In administrative terms, shared equity schemes can sometimes be simpler, though with the increasing range of shared equity offers, not all of them are. Stepped charging products have added to the complexity of explaining shared equity. But shared ownership has other considerable advantages over shared equity – it’s a cheaper home ownership option over both the short and long term for the customers; it uses less government grant per home, so government gets more for its money; it helps people on lower incomes get into home ownership compared to shared equity; and so on.
"It’s much too simplistic to paint shared ownership as somehow less good than shared equity. They each have advantages and they aim at and reach different markets. No-one has yet come up with a shared equity product that works on a 25% or even 35% equity purchase. Great affordability is key to shared ownership’s market offer."
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