Residential development of new homes for Market Sale is traditionally carried out by Private Developers and more recently, and on an increasing scale by Housing Associations for a profit that they then use to cross-subsidize their development of Affordable Housing in conjuction with Grant.
The purpose of developing Affordable Housing is to provide high quality homes, that are financially affordable with respect to household income. The demand for Affordable Housing is consistently far higher than its supply. Registered Providers will seek Grant from Homes England, or from the GLA if inside London. A unique feature of Grant is that it is repayable over time, if and when affordable housing units revert to private ownership, and is then recycled for new developments.
A City for all Londoners.
All Affordable Housing is leasehold. It is well understood that social and intermediate rents are leasehold, but it is often overlooked that Shared Ownership will either have an Assured Tenancy if commenced before 1989, or an Assured Shorthold Tenancy if commenced during or after 1989, until such time as the occupant staircases to 100% ownership.
What is Shared Ownership?
Shared Ownership, the Pros and Cons.
We will agree with you at the outset of your instruction, our Terms of Engagement, and our Professional Fee. We are independant, objective, and may not have a conflict of interest.
We accept Valuation and Development Advisory instructions from Registered Providers of Affordable Housing. We will also perform the role of Land Manager, as a hired consultant.