Norris Green - The Boot estate FAQ
What is the 1985 Housing Act?
Acts are law, made by the government. We all have to do what they say.
The 1985 Housing Act amended and brought together much of the existing legislation that related to public sector housing such as Council houses and homes owned by Housing Associations.
One of the main features of this Act was to make it easier for people wanting to buy their own Council house under the Right to Buy scheme. For example, the Act set limits on what tenants buying their homes would have to pay towards service charges in the first five years of their lease. It also set out some of the things the lease should say, and which properties could not be bought through Right to Buy.
The Act covered many aspects of Council houses, and in particular what minimum standards needed to be met. The Boot Estate's houses failed the government's minumum standards.
The 1985 Act is still in force today. There have been more Housing Acts published since then, in 1996 and 2004 - but these mostly contain new additional laws.
What is Shared Ownership?
This is when Housing Associations or other housing providers offer to sell a half share of a house to you. It may be 50%, or more or less. If you have savings, you can buy your part (or take out a mortgage). Then, you pay rent for the remaining share of the house which the Housing Association keeps.
This option is useful when you cannot afford to get a full mortgage for a house. It is sometimes a cheaper option than buying the whole house yourself.
Sometimes you may be offered the chance to buy the remaining part of your home when you have lived in it for so many years and possibly have the money. Otherwise, if you leave to move somewhere else, you can sell your percentage share of the house.
If this is something which you are thinking of doing, we strongly advise you to seek full proper advice from a mortage or other financial adviser.