Registered providers are the main providers in developing shared ownership and intermediate rented properties. First time buyers looking to buy a home in London can access properties and resources through the Share to Buy website.
A Housing Association or Registered Social Landlord is a non–profit organisation responsible for providing social housing. The name ‘Housing Association’ and ‘Registered Social Landlord’ has been replaced with the name Registered Provider (RP). Registered providers are regulated by the Homes and Communities Agency (HCA).
Through these schemes you buy a share of a property and pay rent on the remaining share you do not own.
The size of the share you purchase will depend on your income and savings. Normally applicants buy a share ranging from 25-60%.
Gradually, you can buy further shares and eventually own your home outright, which is called staircasing.
Priority for these schemes will normally be given to:
- existing public sector tenants or
- those on housing registers with their local authority or registered providers who are in housing need
- key workers
- first time buyers.
Generally, you must meet the following criteria to be eligible:
- your annual household income is less than £90,000 a year
- you are a first-time buyer, or a home owner who needs to move because of a change in your family's circumstances (in which case you must sell your existing property).