The New Model Shared Ownership Lease - Bringing You Up To Date
Following the Affordable Homes Programme 2021-2026, Homes England have now released the new model shared ownership lease which is to be used for homes funded under that programme (excluding London).
At the discretion of the landlord, the new lease can also be used for homes under the previous programme if they complete after April 2021.
The previous model shared ownership lease under the capital funding guide is widely recognised by solicitors and lenders. When a new lease was suggested, there was concern in the sector regarding the implications of a new model lease which deviates from this.
This webinar will look at the changes made to the model shared ownership lease along with the anticipated implications of such changes.
What You Will Learn
This webinar will cover the following:
- Staircasing in 1% increments
- 10 year rent free period
- Reduced pre-emption period
- Term of the lease is now 990 with no exceptions
- A new fundamental clause providing security for lenders
- Introduction of a Key Information Documents Pack
This webinar was recorded on 22nd July 2021
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