Time for some facts about building safety and shared ownership in the UK:

1. There are 157,000 flats that are shared ownership in the UK. These are mainly young first time buyers. A majority of these flats are impacted by the building safety / cladding crisis.

2. Shared ownership was designed for lower income families, who buy their flat in stages (typically starting at 25%) and rent the remainder they don't yet own.

3. Shared owners cover 100% of the service charge cost for their flats which they may only own as little as 25% of.

4. These service charges are now including the huge remediation costs to make these people's homes safe. These costs often cost more than the shared buyers equity, and perhaps even their 25% share in property.

5. Housing Associations, who legally own a 75% share of many of these flats, which they receive a normal (inflation linked) rent on... pay nothing.

6. So the people who can afford remediation costs the least, and only own 25% of the asset, are paying the full bill for the freeholder, who can afford these costs the most and owns a majority of the asset.

7. This always has been unfair, but the stratospheric costs of building remediation have pushed this particular system past breaking point.

8. The government can legislate to fix historic shared ownership leases and to protect these leaseholders. There is nothing unfair about splitting the costs evenly with a majority owner of the asset who can afford these costs and receives rent on the property.

9. So far our government has done nothing. There is no excuse for this. It's time to educate the public.

Remediate. Legislate. Compensate.

#EndOurCladdingScandal