Graeme Moran MHO Managing Director

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Graeme Moran MHO Managing Director Bernie
Conroy MHO Director of Sales and Marketing
Report to East London Housing Partnership 14
September 2009
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MHO - London new build sales statistics

• 3 homes unsold no offer
• 23 unsold but under offer
• 57 sold
• 320 sold in year to 31 March 09

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MHO East London New Build pipeline

• South Dagenham, 10 (Sept 09) 8 under offer
• Crossharbour, 44 (Nov 09) none under offer
• Leaside Road, 9 (Nov 09) - none under offer
• RTHB zero
• Intermediate rent - Zero

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MHO - East London Open Market 08-09

• 180 sales, average price 194K
• 16 grant, 16 MHO funding per case
• 47 of homes three bed plus
• 39 two bed
• 14 one bed
• Expect average investment turnover period of 8
  years i.e re-cycling of investment with 12
  capital growth plus revenue income.

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East London HBA profile

• Currently 3,142 live and approved applications
  looking for homes
• Savings
• 10k plus 26
• 7-10K 14
• 4-7K 23
• Under 4K 37

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Continued

• Household size
• 41 - single person
• 21.3 - two adults
• 8.2 - two adults, one child
• 7.6 - one adult, o e child
• 5.7 - two adults, two children

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Source HomeTrack
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Source Molior
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What is Housing Options? www.housingoptions.co.uk

• Brand name of the Pan London AHO HomeBuy Agent
  Service.
• Launched 1 April 2006
• HCA contract re-won December 2008, extends April
  2011
• One-stop-shop for customers to access
  intermediate sale and rent products across
  London.
• 2 London HomeBuy Agents

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Products

• New Build Homebuy (NBHB, shard ownership
  lease)
• New build equity loans - First Time Buyers
  Initiative (FTBI), London Wide Initiative (LWI),
  Homebuy Direct
• Open market Equity Loans - MyChoiceHomeBuy
  (MCHB), Ownhome
• Renting - Intermediate Rent (IMR),
  Rent-to-HomeBuy
• Other - Social HomeBuy (SHB), HOLD (Home
  ownership for people with Long-term
  Disabilities), Mortgage Rescue

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Service to the Customer

• One application form for all schemes. 4 day
  turn-round
• 0845 230 8099 for all enquiries. Registration
  free
• Information and eligibility on all products
• New schemes marketed and signposted.
• RSLs get leads and direct contact with registered
  applicants to arrange viewings.
• Choice and competition through one stop shop

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The Role of the HomeBuy Agent

• Headline marketing service
• Application assessment and processing
• Referral of eligible applicants
• Maintain and report from database
• Service Level Agreements to RSLs
• FTBI, LWI and HBD, MCHBY schemes.

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Additional services we deliver

• 4 field marketers, (2 for East) to promote
  Housing Options and schemes
• A calendar of their visits is sent to the RSLs a
  month in advance so that RSLs can forward on
  their marketing literature to be handed out at
  these events
• Our marketing team procure best deal/discounted
  press advertising.
• New Homes Shows advertising in every local and
  London paper
• Central email for all application requests
• Affordable New Homes Brochure
• Marketing Meetings
• Shared Weekly MHO sector news

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Obligations of the RSLs Additional

• Provide information on schemes to the HBA
• Sign a Service Level Agreement (SLA)
• Request referrals from the local HBA
• Provide feedback on referrals
• Only sell or let according to rules.
• Site specific marketing.
• Use and send over HousingOptions application.
  Employer reference/affordability checks and
  Financial advice for all potential buyers.
• Allocation feedback to the HBA. (Every 4 days for
  offers made, monthly for completions has been
  agreed)
• Keep their details up-to-date on web site

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