Staircasing on "shared-ownership" in London (1)

Meeting: 
MQT on 2014-12-17
Session date: 
December 17, 2014
Reference: 
2014/5797
Question By: 
Murad Qureshi
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

What is the latest rate of staircasing towards 100 per cent ownership in shared ownership housing schemes part-financed by GLA grant in London?

Answer

Answer for Staircasing on "shared-ownership" in London (1)

Answer for Staircasing on "shared-ownership" in London (1)

Answered By: 
The Mayor

Staircasing requirements for shared ownership properties will be set out in the shared owner's lease. The lease must provide that the leaseholder can staircase to 100% in minimum tranches/shares of 10% (including the last tranche).