MVE

Socially Owned Property (MVE), Socially Owned Property (MGE) and Fair-Value are products used by housing associations. Under these, houses from housing association-owned properties are sold to private individuals. These private individuals then have to live there themselves. Corporations use these options alongside rental housing to meet housing demand.

The features of MVE, MGE, Fair-Value may include:

• a discount on the purchase price at the time of sale;
• an effort from the corporation for maintenance;
• an expiring price guarantee;
• a buy-back guarantee;
• a limited benefit from any increase in value;
• obligation of self occupancy;
• permission from the corporation to mortgage ;
• offer obligation in case of a proposed disposal.

For buyers, it is interesting to buy a property within such a product because the property is relatively cheap. When the purchased property increases in value, you benefit less from the increase. It is important to be aware of the latter and not count yourself rich.

For more information on MVE, MGE and fair value, please get in touch. We will be happy to help.