Welfare Reform on the Web (November 2006): Social housing - UK

A foot on the ladder: low cost home ownership assistance

National Audit Office

London: TSO, 2006 (House of Commons papers, session 2005/06; HC 1048)

The Department for Communities and Local Government wants to offer as many people as possible the opportunity to own a home and plans to help 100,000 households into home ownership over the next five years. This report examines the value for money of the two main methods of government assistance: interest-free equity loans and shared ownership. It considers:

• Whether the current products are delivering the intended benefits of making home ownership accessible to more people and of easing recruitment and retention of key workers.
• Whether the different products have reasonable costs and provide benefits for the home purchaser, the taxpayer and the affordable housing sector.
• Whether the funds available can be made to support more people into home ownership.