---

Shared Ownership Schemes: Consumers

Answer

The vast majority of private shared ownership providers are Registered Providers, regulated by the Regulator of Social Housing. In England, all registered providers of social housing must comply with the regulatory standards set by the independent Regulator of Social Housing.

Shared ownership leaseholders with private landlords who are not Registered Providers will have the same rights as other private leaseholders.

By law, residential managing agents are required to belong to one of the following two redress schemes: The Property Redress Scheme and The Property Ombudsman. Further information can be found at www.gov.uk/government/publications/lettings-agents-and-property-managers-redress-schemes.

Outside of this framework, Government is also committed to exemplary consumer protection across all areas of the housing market. We have established the Regulation of Property Agents Working Group – chaired by Lord Best – to advise on a new regulatory structure for property agents (including letting, managing and sales agents) with an independent regulator and a mandatory code of practice. We expect the group to make their recommendations in July.

As new private sector products are developed we will keep the regulatory framework under review to ensure that consumer protections are maintained and enhanced.

We also know more needs to be done to strengthen consumer redress for purchasers of new build homes, which is why we have announced our intention for there to be a New Homes Ombudsman to protect the rights of all homebuyers and hold developers to account.

Secondary information

Type

Written question

Reference

268525

Session

2017-19

Subjects

Consumers Private sector Protection Shared ownership schemes

Link

View this Written question on www.parliament.uk