by Richard Greenwood on 26 November, 2020
A successful Lib Dem motion that passed unanimously at last night’s Council means the Cabinet will investigate excessive premiums on shared ownership properties.
Shared ownership is a combination of buying and renting, where you own a share of the property and rent the part you don’t. Shared ownership makes eventually buying a house a lot easier for some people. Sometimes a premium is added onto the price of the property, normally for improvements made to it.
The motion recognises that premiums can reasonably cover the property owner for the market value of improvements made on the home, but that excessive and unfair premiums simply stop people from ever getting on the property ladder.
Councillor Jenni Ferrans, Liberal Democrat Spokesperson for Community & Housing, proposed the motion:
“I am quite honestly relieved that this motion was passed. We are in the midst of a housing crisis, where people are struggling to even get on the housing ladder. If Cabinet can do something about this, they should.”
“I look forward to the results of Cabinet’s investigation, and hopefully bit more levelling of the housing playing field in Milton Keynes.”
The Liberal Democrat Group also brought a successful motion on free school meals and fighting child hunger. Both motions can be read on Milton Keynes Council’s website.Leave a comment