Projects

The scheme is modelled on the Government’s previous Help to Buy Equity Loan scheme. Basingstoke and Deane Borough Council’s scheme allows successful applicants to purchase existing properties within the borough, rather than just new builds. Loans are available up to 20% of the purchase price to a maximum of £30,000. The loans are interest free for the first five years.

Applicants need to meet the following criteria:

• Local first time buyers
• Household income under £80,000
• Able to provide a 5% deposit
• Maximum property value £250,000

For full details about the scheme, please refer to the Councils website: https://www.basingstoke.gov.uk/own-home-loan

The council are partnered with Parity Trust to deliver the scheme, with Parity Trust undertaking financial assessments to determine suitability, as well as dealing with the ongoing administration of the scheme post-purchase, including providing annual statements, administering interest payments (if required) and any queries regarding the loan account.

The project has been a success, to date a number of purchases have completed despite significant housing market challenges since its launch in 2020

The loan provides capital assistance on a shared equity basis for residents whose current home cannot be adapted or is not suitable for their long term disability needs, and therefore there is a requirement to purchase an alternative property which is either adapted, or adaptable.

The scheme is primarily for owner occupiers who are existing homeowners, or currently in a shared ownership scheme, and have a level of equity that is insufficient to purchase suitable alternative accommodation and whose financial circumstances do not permit an increase in their borrowing capacity to fund a suitable property.

Eligibility is on a strict case by case assessment having regard to individual circumstances and need. The Council has the discretion to determine the reasonableness of each case. It is also subject to financial resources being available within the Disabled discretionary budget.

Main features:

• Maximum Loan to Value – 75%
• Maximum 50 year term
• No monthly repayment required
• Applicants have the ability to make part payments or settle the loan in full without penalty

Parity Trust offer the Council a full financial services package including a detailed financial assessment, administration and ongoing management of the loan throughout its term.

The project has so far provided £2million assisting households with disabled occupants that were living in properties not fit for their needs. The funding enabled them to move to more suitable properties some of which benefited from the offer of a Disabled Facilities Grant.

The home improvement loan scheme is available to private homeowners, including landlords of tenanted properties.

This scheme, funded by the Welsh Government provides interest-free loans to owners of properties in need of renovation or up-grading to make them warm, safe and secure.

Parity Trust are providing support to Isle of Anglesey, Gwynedd and Denbighshire councils to deliver this scheme. More information about the scheme, including eligibility criteria can be found here:

Gwynedd Council

Isle of Anglesey County Council

Denbighshire County Council

In 2014 Bournemouth 2026 approached Parity Trust with a view to helping residents obtain shared ownership mortgages. At the time there was a limited number of providers in the market place for Community Land Trusts. We were pleased to provide mortgages for five of the houses built.

Gladstone Mews is the Community Land Trust’s housing project, a development of affordable homes completed in 2014. The development includes 9, two-bedroom and 1, three-bedroom energy efficient houses and an accessible bungalow all with private gardens, parking and a shared community space.

Properties are offered through a shared ownership scheme which ensures the house prices are affordable, and remain affordable after they are sold on to the next buyer. Priority for the ownership is given to people from Boscombe.

The Mews are on the same site as TOSH, The Old School House, a grade II listed co-working and community space which is available for hire.

https://recreatedorset.co.uk/gladstone-mews/

During 2016 Parity Trust worked with the Royal Urban Synthesis Society (RUSS), a Community Land Trust based in South London. We carried out a financial review service to assess eligibility for property purchase.

The Church Grove project was granted planning permission by Lewisham Council in 2018. But the Church Grove story started a few years earlier when, after a campaign led by RUSS members, they successfully completed a public procurement process and signed a Development Agreement with Lewisham Council for a ‘community-led, affordable, self-build housing development’ on a former derelict school and industrial site at Church Grove.

The project aimed to provide 36 new sustainable, customised, high quality homes that are permanently affordable and partly self-built in order to reduce construction costs, offering opportunities for training in construction for self-builders as well as apprentices and volunteers from the wider community. The plan was to build a range of houses and flats of different tenures, sizes and levels of self-build in order to create a truly mixed community made up of people from diverse backgrounds in the local area.

https://www.theruss.org/church-grove/