Sharing Ownership policy

This policy explains how we manage our shared ownership properties and how we deal with requests from sharing owners to sell or increase their share.

Principles

This policy is applied using the following principles:

  • Horizon will carry out its obligations to sharing owners in line with their Occupancy Agreement and Scottish Government guidance. Horizon will endeavour to ensure that Sharing owners are aware of their rights, obligations and options.
  • Horizon will manage and administer any shared owners’ requests to buy back, to increase their tranche size or to sell, promptly, fairly and impartially.
  • Horizon will collect the occupancy agreement and any other charges and carry out arrears processes in accordance with the sharing owners’ Occupancy Agreement and its debt collection policy.
  • Horizon will liaise with external agencies to ensure division and sale actions (repossessions) are in accordance with the Occupancy Agreement, Scottish Government Guidance and the debt collection policy.

Practice

We will implement the policy by:

  • We will write to sharing owners after the first year and then every 5 years reminding them that they have the option of increasing their stake in the property in line with Scottish Government guidance.
  • Horizon will ensure that new outright owners are aware of their ongoing responsibility for communal areas in line with their deeds of condition and for the payment of factoring dues.
  • Sharing owners will be given 4 weeks’ notice of any increase in service and factoring charges. These will be reviewed annually and we will be transparent about how these are set.
  • Horizon will provide clear information to sharing owners about their obligations and responsibilities as well as the service Horizon provides. All new sharing owners will be visited by a housing officer when they move in. We will take steps to ensure sharing owners are kept informed, and be invited to give their views in any changes to policy or practice that affect them.
  • We will provide clear information about what the repairs service covers as well as details of how sharing owners to report communal repairs.

Resources

Horizon will carry out its obligations to sharing owners in line with their Occupancy Agreement and Scottish Government guidance.

This policy was approved by the Horizon Board in October 2017.