Explanatory notes on Selection of Key Multipliers
Only one Key Multiplier can be used per unit.
New Build
Acquisition and Works multiplier
Used where a site is purchased and the Association commissions a new build development via a building contract.
Off-the-Shelf Multiplier
Used where new dwellings are purchased, following inspection, from contractors/developers without the Association having commissioned works via a building contract. The cost of any minor works required must be set against the on-cost allowance.
Works Only Multiplier
Used for accommodation which involves the development of land or property already in the Association’s ownership, and for which no acquisition costs (other than legal charges) apply.
Rehabilitation
Acquisition and Works multiplier
Used where existing buildings are purchased and require substantial repair and improvement, conversion, or extension for housing use.
Existing Satisfactory Purchase (ESP) Multiplier
Used where existing dwellings are purchased, following inspection, from the property market without the Association having commissioned works via a building contract. The condition of these dwellings is such that they do not require full rehabilitation, but may require a degree of repair/checks/upgrading to bring them up to an acceptable standard for letting. The estimated repair/checks/upgrading cost of each dwelling must not exceed the specified limit.
Works Only Multiplier
Used for accommodation which involves the development of land or property already in the Association’s ownership and for which no acquisition costs (other than legal charges) apply.
Re-improvement Multiplier
Used for dwellings which have already received some form of public/grant subsidy and now require major improvement works (Re-improvement). Re-improvement schemes are generally expected to be submitted no less than 15 years after a rehabilitation or 30 years after new build construction.*
*(Note: For further details on Existing Satisfactory Purchases, Re-improvements and other types of scheme development see Scheme Types.
New Build/ Rehabilitation
‘Tenanted/Decanting’ Multiplier
Used in:
- New Build – Acquisition and Works schemes;
- Rehabilitation – Acquisition and Works schemes;
- Works Only schemes;
- Re-improvement schemes
Where land and property, or property only, is acquired or exists with a tenant or tenants who have to be decanted to temporary accommodation – such as another dwelling, mobile home or caravan – until the new build, rehabilitated or re-improved dwelling is completed. (including Home Loss costs)
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