The Government award Regional Housing Pot funding to each region in England and ask Regional Housing Boards to recommend how the funding should be allocated in accordance with the Regional Housing Strategy. In the West Midlands, 2006-08 Regional Housing Pot funding has been allocated to fund provision of an additional 1,690 homes for shared ownership.
In addition, by 2010 an estimated 1,050 new homes for shared ownership will be under construction in the West Midlands under our First Time Buyers Initiative.
Existing social homes are also available for shared ownership through the Social HomeBuy scheme. The shared equity task force is looking at further ways to expand home ownership. People living in the Dudley area interested in shared ownership can contact the new one-stop-shop provided by Mercian Housing Association on 0845 607 6726 or find details at: www.homebuyagents.org.uk