DIYSODo-It-Yourself Shared Ownership (real estate; UK)
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DIYSO stands for Do It Yourself Shared Ownership and means that you can buy a house on the open market, which you will share with the housing association, rather than buying one of their tailor-made homes.
DIYSO was to be phased out completely next April and replaced by Homebuy, but the Government recently announced that local authorities (but not housing associations) are to be allowed to continue to offer DIYSO for a couple more years.
DIYSO buyers are free to choose a house on the open market.
DIYSO is a very specific scheme restricted to council and housing association tenants, homeless people and sometimes those on council waiting lists.
With DIYSO we pay pounds 189 mortgage and pounds 146 rent - a saving of more than pounds 200 a month.
DIYSO schemes are run by several housing associations around the country.