Member

The noble Lord, Lord Jamieson, mentioned staircasing. Importantly, full ownership is not the only measure of success. Many shared owners benefit from the stability, security and control of owning a stake in their home, even if they do not eventually staircase to 100%. We recognise that staircasing can be complex and costly, which is why the shared ownership model was reformed to introduce greater flexibility, including smaller staircasing increments. We continue to consider what more can be done to improve the staircasing process and the customer experience. As with the whole scheme, we keep it under review. While a shared ownership strategy or a formal review may appear complementary, we do not consider either necessary. Both would risk duplicating work already under way, and a formal review could disrupt a well-established and widely understood scheme.