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Safe as houses

Investing in Shared Ownership

2020 has been a year of uncertainty in many ways, but one thing that remains certain is our commitment to our members.

USS Investment Management Limited (USSIM), as investment manager to the USS trustee, is always looking at investment opportunities that are in the long-term financial interests of the scheme.

The latest example of this is USSIM’s first investment into a Shared Ownership housing business. Shared Ownership is a government-backed social housing scheme, that helps people who would otherwise struggle to save enough money for a deposit, to purchase a home.

The way the scheme works is it allows people to buy a share of a residential property and pay rent on the remaining share. As the buyer only needs a mortgage for the share they own, the initial deposit needed is much lower than the one that is usually required when purchasing a property.

The property market has been important to us over the years, due to the steady returns it has yielded. Given that track record, we have agreed to enter into a £300m, 45-year debt facility with Residential Secure Income (ReSI), an entity listed on the stock exchange that specialises in investing in Shared Ownership housing.

With the huge shortfall of housing affecting the UK, as well as the positive social benefits to people’s lives that Shared Ownership makes possible, USSIM believes this agreement is the beginning of a mutually beneficial and profitable relationship.

For more news and information to do with USS as well as useful articles around your pension, visit our articles for members page.

Important terms

This publication is for general guidance only. For a glossary of our terms please see more information on our key names and important information page.

Published: 14 September 2020