Shared Ownership Terms definition
Shared Ownership Terms means the Affordable Housing Unit is let:-
Shared Ownership Terms means terms pursuant to a lease of an
Shared Ownership Terms. Means terms pursuant to a lease of an Affordable Housing Unit disposed of a type described in (a) of the definition of “shared ownership arrangements” in S70(4) of the Housing and Regeneration ▇▇▇ ▇▇▇▇ and marketed in accordance with the requirements of the HCA Affordable Housing Capital Funding Guide (AHCFG) or any replacement guidance issued by the HCA or any successor body such lease to permit an initial purchase of between 25% and 75% of the open market value of the relevant Shared Ownership Unit
More Definitions of Shared Ownership Terms
Shared Ownership Terms the Dwelling is let: (a) In accordance with 'shared ownership arrangements' within the meaning of section 70(4) of the 2008 Act; and (b) On a lease in the form of the Homes and Communities Agency or Homes England standard lease on terms where: (i) The percentage of the value of the Dwelling paid as a premium on the day in which a lease is granted under the shared ownership arrangement does not exceed 75 (seventy five) per cent of the market value (where the market value at any time is the price which the Dwelling might reasonably be expected to fetch if sold at that time on the open market); (ii) On the day on which a lease is granted under the shared ownership arrangements, the annual rent payable is not more than 3 (three) per cent of the value of the unsold interest; and (iii) In any given year the annual rent payable does not increase by more than the percentage increase in the CPI30 for the year to September immediately preceding the anniversary of the day on which the lease was granted plus one per cent; The annual expenditure on aggregate rent, mortgage and service charges do no exceed Shared Ownership Costs;
Shared Ownership Terms terms of Disposal contained in model shared ownership leases published by the HCA from time to time whereby (i) an Affordable Housing Provider sells shares in the equity of a dwelling to an occupier who pays rent upon the remainder and (ii) Staircasing to 100% of the equity of the dwelling is allowed;
Shared Ownership Terms means Shared Ownership Housing Units that comply with the definition of 'Intermediate Affordable Housing' contained in the National Planning Policy Framework, the Affordability Criteria and the figures published annually by the Mayor of London in the Annual Monitoring Report or any successor public authority to reflect changes in income/house prices ratios and which aim to ensure that they provide for households with a range of incomes below the upper limit of the affordability criteria for Intermediate ownership products by providing a mix of unit sizes (measured by number of bedrooms) PROVIDED THAT in default of such figures being so published on an annual basis such sums may be amended from time to time by agreement between the Council and the Affordable Housing Provider having regard to changes in income/house-price ratios relating to the Council's area;