New Shared Ownership affordability guidance: Are you ready for 31 July?

On 31 July 2024, the transitional period for implementation of the updated Affordability Guidance for shared ownership in Part 6B of the Capital Funding Guide expires. To comply, RPs must update their affordability criteria/policy to reflect the removal of the affordability calculator, and implemented the following new policies by the end of July:

1. First Come, First Served Policy 
2. Monthly Surplus Income Policy

These two policies must be published on websites and made accessible. 

We have been advising a lot of our clients in respect of these new policies over the previous few months, as well as helping to update their Shared Ownership Affordability and Eligibility policies. If you require any assistance, please contact Samantha Grix or Narin Masera.