Social Landlord Launches 'Revolutionary' Shared Ownership Model

Thames Valley Housing has launched a new and "completely unique" shared ownership model which allows shared owners to own 1% more of their property each year. Shared Ownership PLUS requires a purchaser to pay an equity payment equivalent to 1% of the property’s value spread over 12 months which is added to the monthly mortgage, rent and service charge payments. The additional payment increases by 3% per annum after the first year. Shared owners can continue with the additional payments for up to 15 years, but can exit them at any point, retaining the increased equity, and reverting to a standard shared ownership lease. The payment is made to TVH and is kept separate from mortgage payments. Find out more on the TVH website.

Residents Encouraged To Join Credit Union

Thames Valley Housing (TVH) residents in Hounslow and Richmond are set to benefit thanks to a unique agreement between the Association and a local Credit Union.  TVH has donated £3, 700 to Thamesbank Credit Union (TBCU) from its Community Investment Fund.    The money will be used to target TVH residents in the Boroughs to promote financial stability, encourage saving and help them if they are in debt.  Hilary Ellwood, Volunteer Development Worker at TBCU,  said, “Thanks to TVH this donation will help us reach out to people in Hounslow and Richmond,  who may not be able to get bank accounts or may be struggling with debt and illegal loans.  People in deprived areas are the most vulnerable to these sorts of financial problems. We can help these people manage their money effectively and provide low cost loans which ensure they still have the day to day income.  These areas have been particularly identified in Hounslow as areas with social housing, however we have no specific funding to target them.”   Read more on the TVH website.