Housing groups join forces to develop 'fully flexible tenure' model

Published by Jon Land for 24dash.com in Housing

A group of South East-based housing associations are joining forces to develop a deliverable model of 'fully flexible tenure' that will allow their tenants to move towards home ownership.

Housing groups Sovereign, Moat and Radian have commissioned leading housing consultancy Altair and solicitors Devonshires to explore the risks, opportunities and constraints associated with genuine flexible tenure in order to develop a model that suits people's circumstances, their housing costs and their aspirations.

Fully flexible tenure is about an occupier being able to move between all tenure types (social, intermediate and market rent, shared ownership and full ownership) without having to move home over a period of time as the occupier’s circumstances dictate.

Over the next six months the project will be researching and testing how such a model could work and the appetite for this approach from residents and local authorities.

The project will aim to report in the autumn and in the interim a series of papers will be produced looking at demand, constraints and opportunities, and the model in detail.

Ann Santry, Chief Executive of Sovereign, said: "Flexible tenure in its true sense should have the ability to cater for the changing needs of tenants and offer rewards for residents who take on greater responsibility. This project will help us develop models that can respond to that need."

Steve Douglas, Partner at Altair, added: "This project will dig beneath the theory of flexible tenure, to establish what could really make it work. It will be about creative thinking and practical solutions."

Clare Powell, Director of Strategy at Sovereign, will lead on behalf of the housing groups involved while Steve Douglas and Judy Wayne will be project leads for Altair.

Devonshires solicitors will provide the legal input on legislative issues that might arise. Head of Housing management Nick Billingham, will be project lead.

He said:"There are various legal issues arising from the implementation of true flexible tenure, but we are confident they are surmountable. This project is a timely resurrection of an idea which has been talked about in the past without ever coming to fruition. We are delighted to be involved."