"Lenders and brokers are getting less Help to Buy enquiries from customers as restrictions were introduced a year ago and the scheme nears the end of its shelf life."
Three panel sessions during took place during the event featuring housing associations, property providers and a range of shared ownership lenders. They all agreed that education is vital to raising awareness of shared ownership among first-time buyers but also previous homeowners.
Lenders speaking at the event and in the panel sessions included Barclays, Halifax, Nationwide, Santander, Leeds Building Society, Skipton Building Society, Kent Reliance and Kensington Mortgages.
Housing associations and property providers on the panel were from Sage Housing, SO resi Partnerships, NU Living and Swan Housing.
Shared ownership currently accounts for around 2% of housing stock but housing associations are building more of these homes. The government has pledged funding for up to 90,000 new shared ownership properties in the next five years.
It is also anticipated that more lenders will offer shared ownership mortgages and brokers should be prepared for a rise in enquiries.
John Doughty, financial services director at Just Mortgages New Build Division, commented: “Lenders and brokers are getting less Help to Buy enquiries from customers as restrictions were introduced a year ago and the scheme nears the end of its shelf life. Instead, we are talking to more people wanting to know if they are eligible for shared ownership.
“I would like to take this opportunity to thank all the lenders, housing associations, property providers and developers for their participation in our event during what was a thought-provoking and successful day.”
