Council begins sign-up to issue First Homes Property Logbooks
Bristol City Council has become the first users of the Residential Logbook Association’s new First Homes Logbook and Local Authority reporting system.
This was built by the RLBA to support the Department of Levelling Up, Housing and Communities’ First Homes scheme for first-time buyers.
The initiative is the UK Government’s first use of Digital Property Logbooks. It aims to give all buyers under the First Home scheme a Logbook that connects to their Local Authority, their mortgage lender and the RLBA’s reporting systems.
First Homes is intended to help local people buy new homes being developed in their area at significantly discounted rates. Local Authorities are tasked with matching buyers to developments and monitoring the affordable housing status of the property throughout its lifetime.
This means involvement with developers who work with the RLBA to complete and issue the Logbooks for each new home sold under the scheme. Local Authorities ensure that up to 20% of any eligible development is offered for sale through the First Homes scheme and Section 106 restrictions provide the protections for maintaining the property within the scheme for future purchasers.
Simon Lumb of the RLBA said:
“The First Homes initiative is an important first collaboration between MHCLG, Local Authorities and the Logbook community.
“But it has much wider implications.
“The platform the RLBA has created can be used by Local Authorities to support all Help to Buy programmes including Shared Ownership.”
The initiative is based around a unique First Homes Logbook created by the RLBA, which sits on the RLBA’s own infrastructure, rather than that of any member company. The Logbooks are configured so that they can report development status to the Local Authority and also flag up if the property is put on the rental or sales markets in the future.
Developers looking to participate in the First Homes’s scheme work with the RLBA to create the Logbooks for any given development. Developers are encouraged to use RLBA registered Logbooks from member companies for the other units in any development.
Bristol City Council has been an early trialist of DLUCH’s Logbook initiative. The first batch of homes sold under the First Homes Scheme in Bristol have now been added to the RLBA Registration system.
Julie Curtis of Bristol City Council said:
“Two features of the RLBA initiative were key for us.
“We have a statutory duty to protect the integrity of the First Homes scheme over the lifetime of the properties as they pass from owner to owner.
“So, the ability to monitor the programme via the Logbooks over time is crucial.
“Secondly, the early flagging of when a property is put on the rental market or being sold is important to ensure that future ownership stays with local, deserving applicants.”
Since the RLBA scheme was announced in September year, all legal documentation issued by the Government has had to be upgraded to include the contract and GDPR based amendments required to include Logbooks in the First Homes scheme. These have all now been published giving the green light to bring more Local Authorites on board.
Simon Lumb of the RLBA said:
“We are bringing four more councils on board at the moment as part of our pilot group with another 60 to have come who participated in MHCLG’s Early Roll-out Trials.”
Kindly shared by The Residential Logbook Association (RLBA)
