HOLD accommodation for disabled people

MrsUrwin22

Does anyone have any experience of HOLD shared ownership accommodation, please? 

Hannah_Alumni

Hello @MrsUrwin22

Welcome to the community! I don't have any personal experience. I wondered if you had looked on social media to see if anyone has shared their experience? 

MrsUrwin22

I have, but no, alot of people weren't even aware of the scheme .it's basically shared ownership for people with lifetime disabilities, but you can buy on the open market, you're not just restricted to shared ownership homes.

Jules70

I'm.trying to get more info on the HOLD scheme as it happens

Gaina

Hi! I'm just joining this thread as I'm looking into HOLD myself.

As always, I look at the downside of something first but can't find an object view of the scheme.

I specifically need a Bungalow and they're like hen's teeth new build projects!

Gaina

I've just found this web site, and it appears you have to be in receipt of more than PIP to be eligible.

https://accessibleprs.co.uk/what-is-the-home-ownership-for-people-with-long-term-disabilities-scheme

MW123

HOLD operates similarly to a shared ownership scheme, allowing prospective homeowners to acquire a fractional interest in properties. Typically, this ranges from 10% to 75% of the market value, encompassing both newly constructed dwellings and resale units offered by housing associations. Financing for this purchase can be arranged through a mortgage or your own personal savings.

Upon purchase, the buyer gains a leasehold interest outlining the terms and conditions of occupancy. This lease specifies the rights and responsibilities of both the shared owner and the housing association. These include payment of rent on the association's share, any service charges, ground rent.

The lease also facilitates 'staircasing,' enabling shared owners to gradually increase their equity in the property, potentially leading to full ownership. However, unlike the new Shared Ownership model introduced in April 2021, which mandates housing providers to cover essential maintenance and repairs for ten years, HOLD homes may not qualify for this benefit. This is because they are often purchased on the open market and may exceed ten years in age.

I strongly recommended that anyone considering this scheme fully understands the leasehold arrangements, including any limitations on property modifications and the financial implications of acquiring the freehold interest. A solicitor or qualified conveyancer can provide comprehensive guidance on the obligations and entitlements under this scheme.