Types of Shared Ownership
General needs shared ownership
Key features:
Funded by the housing corporation through housing associations.
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Normally newly built properties. People with disabilities or support needs may apply for these properties along side any other applicant. |
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The housing corporation provides an element of subsidy which helps keep rents down. The bulk of shared ownership uses this method. |
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The main drawback is that most of these schemes do not change their lease for people with disabilities or support needs, so that repairs and maintenance of the property will not be the responsibility of the housing association. Always check this point as there are a few progressive housing associations that provide general need shared ownership with the altered lease. |
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