Chartered Institute of Housing 2m1
Chartered Institute of Housing Level 2 Certificate in Housing Practice (QCF)
Unit 2M1 – Housing Provision and Housing Organisations
Assignment task 1
Tenure is classed as ‘The legal relationship between the resident and the home they inhabit’.
There are two different forms of tenure, the first being Owner Occupation and the second being Renting.
Owner Occupation
The largest type of tenure within the UK is Owner Occupation, this is where the tenant actually owns the home they live in, either in full or part-owned. 66% of tenants within the UK are home owners making the owner occupier market the biggest in the housing world. There are two specific types of home ownership, Full owner occupier and Shared ownership.
A full owner occupier is someone who owns 100% of their homes, be that the land it is built on, the building and all surrounding land and the contents of the home. They will usually have a mortgage from a bank or building society to pay for the purchase of a home over a set number of years, however some may own their homes outright after the cost of purchasing the home has been paid off.
A shared ownership occupier is someone who owns a specific percentage of their home and this is usually a joint ownership with the person who built the property. This tends to be arranged with the local council or a social landlord, who may of paid to build the property and is now selling off a ‘stake’ in the property. Like a full owner occupier the costs of a shared ownership property will usually be met by either mortgage for the percentage ownership of the property over a set number of years or by paying the cost of purchasing said percentage of the house in full.
Renting
The second type of tenure within the housing market in the UK is renting, with approximately 34% of people currently renting a property. Like Owner Occupiers there are two types of rental properties. Private renting and Social renting.
A private renting tenant is someone who pays a
Unit 2M1 – Housing Provision and Housing Organisations
Assignment task 1
Tenure is classed as ‘The legal relationship between the resident and the home they inhabit’.
There are two different forms of tenure, the first being Owner Occupation and the second being Renting.
Owner Occupation
The largest type of tenure within the UK is Owner Occupation, this is where the tenant actually owns the home they live in, either in full or part-owned. 66% of tenants within the UK are home owners making the owner occupier market the biggest in the housing world. There are two specific types of home ownership, Full owner occupier and Shared ownership.
A full owner occupier is someone who owns 100% of their homes, be that the land it is built on, the building and all surrounding land and the contents of the home. They will usually have a mortgage from a bank or building society to pay for the purchase of a home over a set number of years, however some may own their homes outright after the cost of purchasing the home has been paid off.
A shared ownership occupier is someone who owns a specific percentage of their home and this is usually a joint ownership with the person who built the property. This tends to be arranged with the local council or a social landlord, who may of paid to build the property and is now selling off a ‘stake’ in the property. Like a full owner occupier the costs of a shared ownership property will usually be met by either mortgage for the percentage ownership of the property over a set number of years or by paying the cost of purchasing said percentage of the house in full.
Renting
The second type of tenure within the housing market in the UK is renting, with approximately 34% of people currently renting a property. Like Owner Occupiers there are two types of rental properties. Private renting and Social renting.
A private renting tenant is someone who pays a