Shared Ownership Units definition

Shared Ownership Units means the Affordable Dwellings to be occupied by persons who are in Housing Need whereby a person granted a Shared Ownership Lease can purchase an initial equity share in a Shared Ownership Unit of not less than 25% and not more than 75% and pay rent on the unsold equity with flexibility for such a person to purchase further equity shares in the Shared Ownership Unit up to 100% or such other equity sharing or retention terms from time to time approved by the Borough Council

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Shared Ownership Units means the number of Flexible Dwellings disposed of or to be disposed of by way of Shared Ownership Lease set out within the Firm Scheme Details; Site means the site (including any part of it) identified to the GLA as being the area of land comprised or to be comprised in a Firm Scheme and/or the Affordable Dwellings and common areas developed as part of such Firm Scheme;

Shared Ownership Units means those Affordable Housing Units that are to be disposed of by Shared Ownership Lease or other Intermediate affordable housing as that term is defined in the National Planning Policy Framework and approved by the Council as a form of Affordable Housing at the time of the [submission of the Reserved Matters Application] Commencement of Development

Examples of Shared Ownership Units in a sentence

• Not to lease the Shared Ownership Units unless they have first been marketed through the local "Help to Buy" agent (or the agent for any successor arrangement).

• The Affordable Housing Units referred to at paragraphs 1.1 and 1.2 above shall be provided as Shared Ownership Units.

• The Affordable Housing Units constructed and provided pursuant to paragraph 12 shall comprise of a combination of Affordable Rent Units (to be 33% of those Affordable Housing Units) and Shared Ownership Units (to be 67% of those Affordable Housing Units ) and/or with the Council’s prior approval (such approval being at the Council's absolute discretion to be confirmed by the Council in writing to the Owners’ Agent) Intermediate Housing Units.

• The Affordable Housing Units constructed and provided pursuant to paragraph 12 shall comprise of a combination of Affordable Rent Units (being 30to be 33% of those Affordable Housing Units) and Shared Ownership Units (being 70to be 67% of those Affordable Housing Units ) and/or with the Council’s prior approval (such approval being at the Council's absolute discretion to be confirmed by the Council in writing to the Owners’ Agent) Intermediate Housing Units.

• That without public subsidy shall provide on the Site a tenure mix of [ ]% Rented Affordable Housing Units and [ ]% Shared Ownership Units and shall unless otherwise agreed [as part of the approval of the Reserved Matters Application/prior to the Commencement of Development] be in the following proportions rounded to the nearest whole Dwelling:- [ set out in Table- Dwelling type; %Rented Affordable Housing Units; %Shared Ownership Units] 3.

More Definitions of Shared Ownership Units

Shared Ownership Units means 191 Residential Units constructed or to be constructed within Block 1 on the Kingfield Road Residential Land in accordance with the Kingfield Road Planning Permission and shown for illustrative purposes on Plan 7 (and “Shared Ownership Unit” shall be construed accordingly);

Shared Ownership Units means units of Shared Ownership Housing

Shared Ownership Units means Affordable Housing Units which will be offered for shared ownership by the Owner to persons in need of affordable housing in accordance with Schedule [ ]

Shared Ownership Units means Affordable Housing Units which will be offered on

Shared Ownership Units means the Affordable Intermediate Units in respect of which a Shared Ownership Lease is granted and "Shared Ownership Unit" shall mean any one of these units;

Shared Ownership Units. ▇▇▇▇▇▇▇▇▇ identified as such in approved reserved matters and occupied in accordance with the provisions of paragraph 17 of Schedule 1 that apply to this defined term.

Shared Ownership Units means the Affordable Dwellings to be occupied