Shared Equity Housing definition
Shared Equity Housing means that the individual owner of a Residential Unit, whilst bearing to own a 100% share of a Residential Unit, owns a part agreed share with the remaining share secured to a Registered Social Landlord or Scottish Ministers or other such landlord or body as may be approved by the Council;
Shared Equity Housing means Affordable Housing which permits an Eligible Person to purchase a share of the Affordable Housing Property with the remaining share being held by the Registered Provider such initial purchase share not to exceed 75% of the Open Market Value unless otherwise agreed with the Council and in respect of which there shall be no rent charged in respect of the share retained by the Registered Provider
Shared Equity Housing. The Owner hereby cove 1.1 Not to Commence Phase unless an has been submitt (The Affordable H include:- a timeta Phase; and the p Phase; and the lo that Phase; the m the Registered P Phase) and a dwelling let on a shared ownership lease where the freehold and at least 25% of the equity is vested in the Council or a Registered Provider with power to the leaseholder to increase their degree of ownership up to 100% if they so wish but not before five years have elapsed from the date of the lease with any payment due in respect of the Councils equity payable to the Council the form of lease to be approved by the Council such approval not to be unreasonably withheld. nants with the Council as follows: or allow Commencement of the Development in any d until the Affordable Housing Scheme for that Phase ed to and approved by the Housing Policy Officer. ousing Scheme for each Phase shall deal with and ble and programme for its implementation in that rovision of the Affordable Housing Units in that cation of each of the Affordable Housing Units within ix of dwelling types to be provided in that Phase and rovider to whom they are to be transferred in that 15 Upon approval, the Affordable Housing Scheme for each Phase shall be deemed to be incorporated into the provisions of this Agreement
More Definitions of Shared Equity Housing
Shared Equity Housing means the individual owner of a residential unit whilst bearing to own a 100% share of a residential unit owns a part agreed share with the remaining share secured to a registered social landlord or Scottish Ministers or other such landlord or body as may be approved by the Council; “shared ownership housing” means the individual owner purchases part of the residential unit, with the remaining share of the residential unit remaining in the ownership by a Registered Social Landlord. The individual owner pays rent for the share of the residential unit retained by the Registered Social Landlord. The Registered Social Landlord benefits from any equity gain when the house is sold;