Guardian residents generally own their properties outright. They will buy their properties from existing owners, not from Guardian itself. Guardian manages the services and the communal areas of the estate.

On certain estates there may be the option to part-buy or part-buy/part-rent properties for qualifying individuals. See below for further details about these options.

Guardian property owners enjoy similar rights to private property owners. The main differences are Guardian properties are on managed retirement estates and there is a minimum age limit for eligibility. In most cases this is 60 years old although some properties are available to 55 year olds. Property owners are free to sell their properties on to anyone who qualifies as a Guardian resident, and who agrees to the conditions of the service agreement.

Guardian maintains a database of potential buyers. When a property is put on the market, Guardian will introduce the vendor to potential buyers who have registered an interest in buying a property on that particular estate. Potential buyers are free to register an interest in buying a property in as many estates.

To get more information about Guardian estates around the country, click here.

To register an interest in joining the potential buyers database, click here.

A Short Introduction to Guardian's Tenure Types

Most Guardian residents own their properties outright, but some benefit from a range of public and private subsidy schemes, which means that owning a Guardian property is even more affordable.

OUTRIGHT OWNERSHIP

Outright ownership is the most common form of ownership of a Guardian property, whereby residents buy at full market value. Vendors and purchasers negotiate the sale price, determined by current market values. Guardian has no influence over the price that a vendor chooses to ask.

SUBSIDISED OWNERSHIP

There are two types of government sponsored schemes - the Leasehold Scheme for the Elderly (LSE), and the Shared Ownership Scheme for the Elderly (SOE) in operation on a selection of Guardian estates, in addition to some privately subsidised Shared Ownership properties. The purpose of these subsidy schemes is to provide affordable housing for older people with limited means. If you are interested in buying a subsidised property, you may be required to provide financial details in order to demonstrate your eligibility.

Leasehold Scheme for the Elderly (LSE)

Properties under this scheme were built using a government subsidy. Each property is sold for 70% of market value, while the purchaser enjoys exclusive possession and use.

When such a property is placed on the market, a professional valuer ascertains the full market value, the property is then sold at 70% of that amount. This way the property will remain an affordable form of housing for its entire life.

Residents who have bought properties through the LSE scheme are not required to pay any additional sums to Guardian other than the standard services charges that all residents pay.

Shared Ownership Scheme for the Elderly (SOE)

Properties under this scheme were also built using government subsidies. Residents may buy a 25%, 50% or 75% share of the property. The proportion that can be purchased is determined by the percentage previously owned when the property is put up for sale.

As with the Leasehold Scheme for the Elderly, the resident enjoys full and exclusive possession of the property. If a resident owns just a 25% or 50% stake in the property, rent is payable on the un-owned equity, but only up to 75% of its value. Rent is never payable on the final 25%, so residents who own a 75% stake of their property pay no additional rent.

Again, when a property under the SOE scheme is put on the market, a professional valuer will ascertain the current full market value, and the sale price will be based as a percentage of that amount.

Shared Ownership

A small number of Guardian properties have been built using private subsidy. These properties are sold on a similar basis to those under the SOE scheme, with residents buying a percentage of the equity, and paying rent on the un-owned amount. Residents enjoy full and exclusive possession of the property.

 

Guardian can offer advice and support with your purchase.