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Low Cost Home Ownership (LCHO) has received a major boost after a survey found that buyers are overwhelmingly satisfied with their tenure. In a comprehensive independent evaluation report carried out for the Office of the Deputy Prime Minister, more than 80 percent of shared ownership and Do-it-yourself shared ownership buyers stated they were satisfied and over 90 percent Homebuy purchasers were satisfied and two thirds very satisfied with their form of tenure.
The research, launched today at the National Housing Federation annual conference in Birmingham, also found that LCHO schemes offered good value for money for both the consumer and in terms of public subsidy.
Housing Minister, Jeff Rooker, said the low cost ownership research would go a long way towards helping inform the Deputy Prime Minister's longer-term vision for housing and sustainable communities.
"Low cost home ownership schemes are vital in helping to tackle the shortage of affordable homes. This evaluation will help shape our long term programme of action to build sustainable communities and provide homes people can afford."
The report made a number of recommendations including a call for strong championing and clear leadership of the LCHO programme both from government and other organisations as well as better targeting towards regions where there is the most need and demand.
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