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Jusuf Dervovic Home Options Manager Notting Hill Housing

Assets and Opportunities. Jusuf Dervovic Home Options Manager Notting Hill Housing. What do social tenants want?. MORI survey March 2007 http://www.nottinghillhousing.org.uk/news.aspx?id_Content=938. Tenants’ Aspirations. Locked-in. Ready to Buy. renters. 15%. 23%. Aspirational.

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Jusuf Dervovic Home Options Manager Notting Hill Housing

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  1. Assets and Opportunities Jusuf Dervovic Home Options Manager Notting Hill Housing

  2. What do social tenants want? MORI survey March 2007 http://www.nottinghillhousing.org.uk/news.aspx?id_Content=938

  3. Tenants’ Aspirations Locked-in Ready to Buy renters 15% 23% Aspirational homeowners 15% Lifestyle renters 14% Pragmatists 33%

  4. Home Options • Desire to consider home ownership • Explain options • Affordability advice • Action planning and support

  5. RentPlus • Disposable income - save or consume? • Behave like an owner - save and maintain • Accumulate lump sum • plus interest • Bonus for keeping home in good condition

  6. 10 Per Cent Shares • Shared ownership is no longer Low Cost • £200,000 flat • 50% share - £29,000 p.a. • 25% share - £24,000 p.a. • 10% share - £20,000 p.a.

  7. Social HomeBuy • Marketing generated 2,058 enquiries • 595 desk top valuations • 114 applications • 27 homes sold – more than any other RSL • Reinvest in new homes

  8. Affordable City Living • Stylish, well designed city apartments • Great value - £150,000 • First-time buyers, younger people and down-sizers

  9. New Build Homebuy • Part buy - part rent • Buy between 25% - 75% • Pay subsidised rent on remainder • Staircase up to 100%

  10. How Home Options Works • Receive an enquiry about Home Options • Arrange appointment for one to one advice • Give information pack and explain the service • - Establish where they are • - Find out where they want to be • - Agree moving forward • Provide ongoing support

  11. Home Options So Far • 247 tenants received advice • 114 tenants attended face to face meetings • 9 completions - 5 Social Homebuy - 2 New Build Homebuy - 1 Open market Homebuy - 1 Private Sale • 47 active applicants

  12. Your response How well are you marketing and selling home ownership options? Do you have a segmentation strategy for targeting potential buyers? Are you offering 1-2-1 or other advice service?

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