EAC launches directory of available shared ownership property
Published on Friday 10th of June 2022
Shared ownership is a tenure more familiar to younger people, as a way of getting a foot on the home-ownership ladder by buying a share in a property and paying rent on the share they don’t own.
But in fact shared ownership retirement properties have been around for 40 years – never a mainstream tenure, but a godsend to some. It can enable those with limited housing equity to afford a new retirement property, and provide a means for others to release equity when they move to spend on other things.
Several mainstream providers of retirement complexes now offer forms of shared ownership (as well as renting) as an alternative to outright purchase. And an ‘All Party Parliamentary Group’ is currently taking evidence from a wide range interested parties with a view to making recommendations on whther the way shared ownership works, and is marketed, could be improved to make it an attractive option for more older buyers looking for a retirement move.
Over the years EAC has collated information about existing retirement developments that include shared ownership tenure, and this week we launch a directory on this site to help you find what is available now in your area.
Attractive as it can be, shared ownership retirement property takes some understanding! So look out for more of the explanatory materials we will be publishing on the site over the coming months.
Shared Ownership Leases : What is shared ownership leasehold, and how does it work? (published by LEASE, 2011)
Older Person’s Shared Ownership (OPSO) – made simple (published by Notting Hill Genesis, 2021)
Leasehold Schemes for the Elderly (published by Railway Housing Association)
Leasehold Schemes for the Elderly (LSEs) (Published by Clwyd Alyn Housing Association)
Your guide to buying a Shared Ownership home with us (Published by Riverside Home Ownership)