Member

A further problem for shared owners is contained in ground 1A for possession—namely, the intention to sell. Most shared owners who have sublet will need to use this to sell, if they can find a buyer. Unfortunately, the four-month notice to be given to the tenant prescribed in the Bill presents those in shared ownership with a risk. Selling a shared ownership property is difficult, not least because of the restricted pool of potential buyers, the requirement for the social landlord to have first refusal and the additional RICS valuation costs. Shared ownership properties impacted by the building safety crisis often have high service charges and high insurance costs, making them an unattractive proposition.