What exactly is OPSO?
Older People's Shared Ownership (OPSO) is a way for older people to own a home without having to buy it outright.
This scheme is specifically designed to help people 55 and over to buy a new home and is a great option for older people who seek accommodation with additional support services.
How does it work?
OPSO works the same way as the general shared ownership scheme. You you can buy a share between 25% and 75% and pay rent on the rest. If you buy the maximum share of 75%, you will not have to pay rent on the remaining 25% of the property.
Unfortunately, you cannot own 100 per cent of your home. This is to make sure that the home stays available as affordable housing for an older person in the future.
Who can apply?
- If you are over 55 and can afford to buy one of the homes, you are eligible. You must be able to buy the share and have savings left to pay your legal fees and moving costs.
- You can buy the share with savings, a mortgage or proceeds from selling your current home.
- You don't have to find a buyer for your current home until we offer you a home at one of our OPSO developments. We will then give you a certain time to find a buyer.
For more information about OPSO contact us on 0203 815 2222 or email firstname.lastname@example.org.
Download the full guide to Older Person's Shared Ownership (OPSO)