jusuf dervovic home options manager notting hill housing assets and opportunities
TRANSCRIPT
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Jusuf DervovicHome Options ManagerNotting Hill Housing
Assets and Opportunities
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MORI survey March 2007
http://www.nottinghillhousing.org.uk/news.aspx?id_Content=938
What do social tenants want?
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Ready to Buy15%
Pragmatists33%
Locked-in renters
23%
Lifestyle renters14%
Aspirational homeowners
15%
Tenants’ Aspirations
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• Desire to consider home ownership
• Explain options
• Affordability advice
• Action planning and support
Home Options
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• Disposable income - save or consume?
• Behave like an owner - save and maintain
• Accumulate lump sum plus interest
• Bonus for keeping home in good condition
RentPlus
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• 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.
10 Per Cent Shares
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• Marketing generated 2,058 enquiries
• 595 desk top valuations
• 114 applications
• 27 homes sold – more than any other RSL
• Reinvest in new homes
Social HomeBuy
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• Stylish, well designed city apartments
• Great value - £150,000
• First-time buyers, younger people and down-sizers
Affordable City Living
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New Build Homebuy
• Part buy - part rent
• Buy between 25% - 75%
• Pay subsidised rent on remainder
• Staircase up to 100%
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• 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
How Home Options Works
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• 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
Home Options So Far
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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?