Everyone knows that shared ownership is available for first-time buyers, but our research shows that a minority of people know about Older Persons Shared Ownership (OPSO).
Shared ownership in Dorset, Wiltshire & Somerset
We are proud to have several shared-ownership communities for over-55s in Dorset, with stunning apartments available at Vista in Parkstone, Esprit in Poole town centre, and beautiful apartments and homes at our community in Sherborne. We also have a choice of incredible apartments, houses and cottages available at Chapters, off Wilton Road, in Salisbury, and striking apartments at Quantock House in Taunton, Somerset, all of which enable the homeowners to live independently in their own homes. Pets are also welcome to come with their owners to their new homes.
Research we commissioned into the property market uncovered that 70% of UK residents surveyed aged 55-60 had never heard of OPSO, while the number only dropped slightly to 65% of over 61-85 year-olds.
What is the Older Persons Shared Ownership Scheme?
Older Persons Shared Ownership (OPSO), which is available to those aged 55 and over, enables home buyers to purchase a property for typically 50% of its full market value. Commonly known as part-buy, part-rent, it enables people to move and potentially downsize from their existing home which may no longer be suitable for their needs while freeing up money from the sale of the property to use on other life events.
Mark Edwards, co-managing director, said: “It’s very surprising to hear how many people have not heard of Older Persons Shared Ownership, as it could benefit so many residents who are currently living in homes which are too big for them to maintain or the property may have accessibility issues. Meanwhile, we have created a range of beautiful, purpose-built homes which are ready and waiting for people to move into which put the residents at the heart of their communities and are available through our shared ownership scheme.”
Older Person Shared Ownership eligibility criteria
To find out if you're eligible for OPSO, you must meet the following criteria:
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All prospective purchasers must meet the minimum age requirement of 55.
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Your annual income must be less than £80,000 per household.
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You can only own one property.
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You must be able to afford to buy the agreed percentage of the purchase price.
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You must be able to afford the annual rent and service charges.
If you don't qualify for OPSO, don't panic, we have our own Platinum Skies Shared Ownership (PSSO) scheme that gives you all the benefits of shared ownership, giving you a better quality of life.
Shared ownership at Platinum Skies
Prices start at £90,000 for a luxury apartment and each property has the added benefit of a dedicated onsite Community Manager who helps to build a dynamic community amongst the homeowners. They organise fun activities such as chocolate tasting workshops, cheese and wine evenings, themed meals, yoga, quizzes, and crafts, as well as offering practical and emotional support to each of the residents.
Platinum Skies, which is part of the Affordable Housing and Healthcare Group (AHH), is a registered provider of affordable homes, which is regulated by Homes England, a government agency, which helps to deliver affordable independent-living sites.
We provide people aged 55 and over with the opportunity to enjoy the benefits of a new home built with their current and future needs in mind, with the health and wellbeing benefits of living within a retirement community.
For more information about the homes available under the shared ownership scheme, call 01202 040996 or get in touch.
