Shared ownership was intended to help buyers enter the property market, but many homeowners are expressing dissatisfaction. Reports indicate a 400% increase in complaints regarding repairs, selling, and costs in shared ownership homes over five years. Many owners, like Diana and her husband Chris, feel they have faced significant hardships, lacking homeowner rights while bearing rental obligations. After a traumatic selling experience, the couple chose to return to private renting, reflecting a growing disillusionment with shared ownership as a viable housing solution amidst rising complaints and financial woes.
"We had none of the rights of homeowners, and all the obligations of renters," said Diana, who together with her husband Chris, bought a shared ownership property in east London in February 2020.
"It's a big con and we felt trapped," said Diana. "Not being able to sell was a trauma. They sell it to you as a dream but then it became a nightmare."
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