Shared Ownership Housing Action Plan
- report by Tracie Seals, Affordable Housing Officer.
Minutes:
Tom Bell outlined the matters set out in the report presented, together with the key elements of the Action Plan.
At the Housing Market Renewal Pathfinder Meeting on 21st January 2008, Minute No: 30 (3) Members requested an Action Plan setting out how Shared Ownership would be promoted in the Borough as a viable, affordable housing option.
The report provided a proposed Action Plan for Members’ consideration and approval and examined shared ownership in accordance with the following headings:-
v The shared ownership situation in other local authorities
v How shared ownership is developed
v How shared ownership is accessed by applicants
v Who is eligible for shared ownership
v Marketing of shared ownership homes
v Financing of shared ownership home purchase, and
v The costs involved in purchasing shared ownership homes
If marketing and promotion of Shared Ownership as a viable housing solution in Rotherham was not successful, new build housing would mainly be for sale and social rent, in other words, at the extreme ends of the range adversely impacting on those in housing need.
The Council would not have enabled housing options for those people that did not wish to rent and that could not afford to buy outright at the current market value. It was essential that the Council continued to drive forward opportunities for home ownership.
Furthermore the Council would not assist in the development of sustainable, cross-tenure communities in line with the Governments review, ‘Delivering Housing and Regeneration: Communities England and the Future of Social Housing Regulation.
The meeting discussed:-
- Shared Ownership Interest/Potential blockages
- Quality Assurance
- Public Sector backing
- Role of specialist lenders
- Involvement of “key choices”
- Training and advice
- Percentage split of ownership
Agreed:- (1) That the report be noted.
(2) That the actions contained within the Action Plan be supported.
(3) That an update report on progress against the actions be submitted to Cabinet in two months’ time.