What is Flexible Tenure?
This allows Thames Valley Housing (TVH) to purchase back shares in your home in order to alleviate financial difficulty where it threatens to result in the loss of your home through repossession. It will be considered for people in severe financial difficulty only. You can find out more by downloading our Flexible Tenure leaflet at the foot of the page.
Please take financial difficulties seriously. If you are experiencing financial difficulty and you have not already done so, you should contact an independent counselling agency, such as the Citizens Advice Bureau and talk to your mortgage lender.
Find out more about managing financial difficulties and debt.
You may be eligible for Flexible Tenure if:
- You have purchased a shared ownership home through TVH
- You are paying rent to TVH on the unsold equity in the property. (This does not include ground rent and a service charge).
- You must have exhausted all other options
- You can provide a report from an independent debt-counselling agency, which includes your eligibility for housing benefit, if applicable. We strongly recommend you approach the Citizens Advice Bureau for this, if you have not already done so.
In extreme cases, a Flexible Tenure option exists through which TVH acquires all the shares owned and the leaseholders become Assured Tenants. Once this has happened, the future purchase of shares would no longer be an option. Please be aware, that while it is an option in very extreme circumstances, its approval is also subject to both cost and management implications.
You are not eligible if:
- You have acquired the property via the Right-to-Buy, Right to Acquire, Tenants Incentive Scheme or HomeBuy (shared equity) scheme.
- You are an owner occupier or former shared owner
- Your financial difficulties are due to unsecured loans or credit cards.
Applying for Flexible Tenure
If you feel you are eligible, and would like to apply, please email the After Sales Team giving your name, a contact telephone number and full details of your circumstances, including:
- A current redemption figure on your mortgage
- An estimate of the value of your home
- Evidence to show that other short and long term options have been exhausted, such as evidence of loan rescheduling, consideration of selling and moving to a cheaper property etc, including evidence from an independant debt-counselling agency (see eligibility above)
- Evidence that the proposed equity purchase will offer a solution to your current difficulties, that is sustainable in the long term.
We will consider your case once we have received all of the above information. Our assessment will include consideration of your ability to meet future repairs and maintenance liabilities.
Contact us
For more information about Flexible Tenure please email the After Sales Team, or ring them on 0845 600 6699. Please include your name and a contact telephone number.
You can also download our Flexible Tenure leaflet at the foot of the page.
Your home is at risk if you do not keep up rent and mortgage repayments or payments on other loans secured on it.
Please note, the value of properties can go down as well as up.