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<p>We believe that Shared Ownership has an important role to play, as part of a diverse
and thriving housing market, in helping those who aspire to home ownership but may
be otherwise unable to afford it. The combination of rent and mortgage will often
be lower than the cost of outright purchase and in many areas lower than the cost
of private renting.</p><p>We have made changes to Guidance for grant funded Shared
Ownership, including raising the income cap on Shared Ownership in England from £60,000
to £80,000 and up to £90,000 in London - allowing 175,000 more households to have
access Shared Ownership.</p><p>Between 2015 and 2018 - 6,041 shared ownership homes
were completed in London.</p><p>The Mayor has overall responsibility for housing policy
and delivery in London, but we are all agreed that London needs to build many more
homes to meet its need. That is why we have agreed that London will receive £4.8 billion
of the Affordable Homes Programme funding (including £1.67 billion announced at Spring
Statement 2018) to deliver at least 116,000 affordable housing starts by March 2022.</p>
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