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Home  Social Homes England Cheshire |
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Equity Housing Association Ltd. : |
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Type : Subsidiary / Sale or Lease / # SL3170 Do you work here? If so you can edit this data & register on Housingnet for free. |
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Armitt House
Monmouth Road
Cheadle Hulme
Cheadle
Cheshire
SK8 7EF
England
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| General Information / Background |
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Equity Housing Association Limited is a not-for-profit organisation which provides opportunities for those on moderate incomes to become home owners through shared ownership. The majority of this work is now carried out by Equity Housing Group.
Shared ownership enables people using a conventional mortgage to purchase a share of a property (usually 50%) and pay a rent to Equity Housing Association for the part it retains. This, enables those on moderate incomes to get a 'foot on the home ownership' ladder. The purchaser can, at a future date, buy further shares in the property from Equity and become owners outright. Alternatively, if they wish to move, they are able to sell on their share on the open market.
Equity Housing Association also provides housing for sale for older people. There are two types, one which is termed LSE (Leasehold Schemes for the Elderly) and the other SOFTE (Shared Ownership for the Elderly). LSE and SOFTE give people of retirement age the opportunity to purchase a portion of a property specifically built for older people. This usually enables them to release equity in their existing home. |
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