The eagle eyed amongst you may have spotted there have been a few changes around here recently...
Due to our parent company Halton Housing’s renewed focus on Shared Ownership, and to better explain the relationship between Open Door and Halton Housing, the Development and Sales directorate have recently adopted an updated brand ‘Open Door by Halton Housing’, under which the team will build and sell new-build Shared Ownership homes. The two teams were amalgamated at the end of 2022 to form the Development and Sales directorate; the sales team had previously been part of OSUK, Halton Housing’s commercial subsidiary.
With the cost-of-living crisis and hikes in inflation having a significant impact on borrowing rates, Shared Ownership is often the ideal solution for many, at a time when buying on the open market is no longer a viable option.
Shared Ownership is a way to buy your own home if you can’t afford to buy a house outright. Based on what you can afford, you buy a share in a home and pay a reduced rent on the share that you don’t own. Shares range from 25% - 75% initially, or from 10% if buying through the updated Shared Ownership model, with the option for you to buy more once you move in.
Not just for first time buyers, eligibility for Shared Ownership extends to those who have gone through a relationship breakdown, are looking to downsize, or are unable to afford to buy a home suitable for their housing needs on the open market too. Eligibility requirements are that applicants are at least 18 years of age, has an annual household income of less that £80,000, and cannot own another home.
‘Open Door by Halton Housing’ lives by the same purpose, and mission as Halton Housing; ‘improving people’s lives’; the highly experienced team work to build trust with customers and partners, in order to deliver an excellent, personal, high quality and reliable sales service which exceeds expectations.
Director of Development and Sales, Paul Mullane said:
"We’re currently selling shared ownership homes at three very popular developments - Thornfield Green in Middlewich; Orchard Meadows in Warrington; and our independent living scheme for over 55’s, Hazlehurst in Sandymoor. With more projects in the pipeline, we are currently in exciting, yet challenging times. External factors coupled with an extremely high demand for new Shared Ownership homes, means we have to ensure we are in the best possible position to deliver on our own targets to increase the number of affordable homes in Widnes, Runcorn and beyond.
The strategic decision to make our Shared Ownership offer clearer to customers and stakeholders makes perfect sense and allows us to really build on Halton Housing’s reputation as an established, trusted and financially viable homebuilder, to help secure and enhance our competitiveness now and in the future".
OSUK remains as a standalone commercial subsidiary, focussing solely on private rented sale (PRS) and boasts a diverse, national portfolio of homes. It’s crucial that we recycle any profits from private sales that OSUK make, back into Halton Housing, to continue being able to offer more affordable homes.
For more information about our parent company Halton Housing, visit the website www.haltonhousing.co.uk.