AFFORDABLE HOMES STRONG COMMUNITIES
Co-ownership Equity
Sharing Housing - what is
it?
June 2006
Co-ownership Equity Sharing
Housing - what is it?
Introduction
Co-ownership equity sharing housing offers
a distinctive choice to people who cannot,
or do not want to, obtain a home in other
ways, and provides the opportunity for
involvement in the community of which
they are part.
It combines some of the advantages of
rented accommodation and of owner-
occupation. Its main features include:
• collective ownership and responsibility
for management;
• a home without having to raise a
mortgage yourself; and
•
the potential for a lump-sum payment
if and when you move after a qualifying
period.
Many co-ownership equity sharing
properties have been sold following the
introduction of the Housing Act 1980 and
subsequent updating Acts, and no new
co-ownership equity sharing housing has
been built for some years owing to problems
of affordability of new schemes and to the
change of emphasis to social housing. Co-
ownership equity sharing properties are
therefore difficult to find, and those which
remain may have long waiting lists.
The following questions and answers will
hopefully provide you with an adequate
explanation of co-ownership equity sharing
housing. If you need more information there
is an address at the end of the questions and
answers, to which you can write.
1. Who provides co-ownership
equity sharing housing?
Co-ownership equity sharing developments
were planned and built by Housing
Associations and Societies, but for clarity
they will all be referred to throughout the
rest of this booklet as Societies. A Co-
ownership Equity Sharing Housing Society
is a non-profit-making Friendly Society
which has to be registered with the Mutual
Societies Registration Division of the
Financial Services Authority, and must also
be registered with the Housing Corporation
under the Housing Act 1996. A Co-
ownership Equity Sharing Housing Society
is a fully mutual society, which means t