CHOP is our most senior level home owners’ committee. The group consists of leaseholders and shared owners from across the Hyde Group.
The group work closely with the Home Ownership Team. They scrutinise and are consulted on different aspects of services that affect home owners of any tenure, including service charges.
The panel is a formal subcommittee of Hyde Residents Voice (HRV) and can refer disputes or escalate non-performance to HRV for consideration at their next meeting.
CHOP are currently recruiting and would welcome expressions of interest from potential new members. If you might be interested in joining, send an email to email@example.com for more information.
Minutes of the CHOP meetings from the last year can be found at the bottom of this page.
CHOP meeting 18 July 2017
The last meeting of CHOP was well attended with one observer from Stockwell.
The agenda included a discussion around shared ownership and ‘staircasing’ from the Resale and Staircasing Manager. The group discussed the process of staircasing (purchasing more of a percentage of your shared ownership property) and the barriers experienced by residents to staircasing. These included cost - as legal fees and valuation fees must be paid every time you staircase - and the effect on resale value if a shared owner were to staircase between 50% and 100%. The majority of Hyde shared owners staircase from 50% to 100% in one go.
The Resale and Staircasing Manager provided some statistics on staircasing from the last three years to help this discussion.
- Hyde have 3500 shared owners, 659 of which have staircased.
- 273 of the 659 have staircased to the full 100% ownership, are really happy and are staying in their property
- 206 have staircased to 100% and have sold their property
- 89 shared owners have bought a partial share in their property but not 100% yet
- 25 shared owners have been repossessed, which was explained to be quite a low figure when compared to other large landlords
- 6 shared owners have bought a Hyde shared ownership property and staircased at the same time
- 63% of the staircasings have been in London
The “Second Steps” initiative was also discussed and there are still 10 spaces for shared owners on this scheme. The initiative ends in March 2018.
CHOP were also given an update on the Service Charge Project and the Sinking Funds Project.
Minutes will be published on this page once they have been agreed.