Under the terms of the scheme, the maximum loan which may be advanced by a local authority, subject to repayments not exceeding 35% of a household's net income, is £100,000 and the maximum value of the dwelling which may be rented is 60%.
The operation of the shared ownership scheme is, in the first instance, a matter for individual housing authorities. Otherwise, the determination of the amount of loan which may be advanced, the maximum house price and the relevant proportions between purchased and rented elements are matters for the local authority, having regard to the circumstances of each individual applicant. There is no proposal to amend the terms of the scheme at this stage, but they will be kept under continuing review.