Homes England has announced that it will shortly publish updated Key Information Documents (KIDs) for Shared Ownership homes delivered under the Shared Ownership and Affordable Homes Programme 2016–2021 (SOAHP 2016–2021). The updated documents are intended to align with improvements already made to the KIDs used for homes funded through the Affordable Homes Programme 2021–2026 and the Social and Affordable Homes Programme 2026–2036.
What is changing?
The changes relate to the suite of KIDs used for Shared Ownership properties funded under SOAHP 2016–2021. Homes England has indicated that the revised KIDs will reflect enhancements introduced earlier this year to improve the clarity and consistency of information provided to purchasers.
As no new homes will be delivered through SOAHP 2016–2021 after 31 March 2026, the updated documents are expected to be used primarily in connection with Shared Ownership resales. Homes England has also indicated that the revised KIDs may be adapted for older Shared Ownership homes delivered through previous affordable housing programmes.
What does this mean for providers?
Homes England will be writing to Investment Partners and other stakeholders to raise awareness of the changes. To allow organisations time to update their systems and processes, there will be an eight-week implementation period before the updated KIDs are expected to be used.
Registered providers and other organisations involved in Shared Ownership sales and resales should use this period to:
- review existing KID templates and processes;
- identify any systems or documentation that may require updating; and
- ensure relevant teams are aware of the forthcoming changes and implementation timetable.
Shared Ownership lease updates
Alongside the KID changes, Homes England is updating its Shared Ownership lease documentation so that the current lease suite applies to the Social and Affordable Homes Programme 2026–2036 as well as the Affordable Homes Programme 2021–2026. Homes England has confirmed that this is a programme-name change only and that there are no substantive amendments to the lease content.
How we can help
We are monitoring the publication of the updated KIDs and any accompanying guidance. If you would like advice on how the changes may affect your Shared Ownership sales or resale processes, please get in touch with us.