Thames Valley Housing (TVH) has been awarded the National Leasehold Conference (NLC) award for Innovation in Leasehold Management.
TVH won the award for its new product, Shared Ownership PLUS. The product allows people to purchase an extra 1% of their home every year, at a predetermined price.
Kush Rawal, Sales and Marketing director at TVH, said, “We carried out research in conjunction with the University of Cambridge on the traditional shared ownership model. It showed that once people had bought the first percentage of their home, they were rarely able to afford to buy more.
This is especially true in the south east of England where house price are very high compared with salaries.
Kush said, “Shared Ownership PLUS was developed to address this. It allows home owners to buy more of their home in affordable yearly increments, It also dispenses with extras such as valuation fees, solicitors fees and stamp duty, since the value is pre-determined when the first percentage is purchased.”
The Innovation award is given to an initiative that shows a clear understanding of what customers want, delivers an improvement in a specific service and uses new technology to achieve its goal.
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