The Ministry of Housing, Communities and Local Government has confirmed a major package of reforms to the rules for shared-ownership properties to give leaseholders greater long-term security.

Under the plans, all new shared-ownership homes will need to come with a minimum 990-year lease term. The move is designed to stop leaseholders of shared-ownership properties having to pay for multiple lease extensions. MHCLG said it built on “wider leasehold reforms” and recent commitments to provide longer lease extensions to other leaseholders. The current model shared-ownership lease produced by government housing agency Homes England is 99 years.

…