Regulation of Service Charges and Shared Ownership
A sector expert has called for the regulation of service charges and highlighted issues with shared ownership being sold as an affordable product.
Stanimira Milcheva, a professor of real estate finance at University College London, addressed the House of Commons' Housing, Communities and Local Government Committee on 28 October.
She said shared owners need better regulation of service charges and should be warned about these, which in some cases can be as high as rent payments.
Professor Milcheva expressed her support for shared ownership, but acknowledged its complexity.
- Service charges need regulation
- Shared ownership is often sold as an affordable product, but can be complex
Author's summary: MPs hear concerns about service charges and shared ownership.