We think the government should change the term of the shared ownership scheme to assured tenancy lease. We think this is because only a minority of people are able to buy the freehold, which is not always possible for a flat.

We think that many consumers may not be aware of how the equity works and the freehold is not within their grasp. We think the term Shared ownership is mis-selling because we think many consumers may be unaware the equity is a depreciated tenancy. We think if the 80 year lease rules are not highlighted some consumers may have to pay thousands of pounds to extend a lease potentially with many pitfalls. We think the disadvantages of Shared ownership outweigh any advantages; it is not a transparent or fair transaction