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Commonhold

Volume 492: debated on Thursday 14 May 2009

To ask the Secretary of State for Justice with reference to the answer of 13 February 2006, Official Report, column 1615, on commonhold tenure, what steps have been taken to promote the operation of shared ownership leases in residential commonhold units since 2006. (274712)

No steps have been taken to promote the operation of shared ownership leases in residential commonhold. Long leases of more than seven years, including shared ownership leases, are not possible in commonhold.

Affordable housing can be provided in commonhold by means of shared ownership trusts. The Finance Act 2007 extended the same stamp duty land tax treatment available to shared ownership leases in leasehold to shared ownership trusts in commonhold.