Plan to change shared ownership equity rules described as 'tinkering'

Labour dismisses housing secretary’s plan to allow buyers to boost stake in smaller steps

People seeking to get on the housing ladder through shared ownership may be allowed to increase the proportion of the home they own in smaller steps than currently allowed, the housing secretary, Robert Jenrick, has announced.

Instead of increasing equity in 10% chunks, people who share the ownership of their home with a housing association could buy as little as 1% a time, in what the government described as an effort to make home ownership more accessible to low-income groups and to “level up” the country.

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