But Jamie Sugar, who acquired her home through the scheme, says: “I don’t think it’s affordable at all.”
Sugar is a single parent and bought a 25% share of a three‑bedroom flat in north London to share with her child and disabled mother. She says she is struggling to afford her home after service charges rose to more than £8,000 per year – an increase of nearly 50% in under four years.
From April, she faces paying £683 per month in service charges on top of her rent and mortgage payments. Housing costs, before bills, now take up more than half of her income.
“My net income is about £2,998 a month, and my housing costs are now over 50% of that. It’s just not sustainable.”
“I knew there would be service charges,” she says, “but shared ownership was advertised as affordable housing.”
Sugar’s housing association said it understood her concerns about rising costs, and would contact her to provide clarity on charges.