Bellway Housing Trust offers:
Sharebuy - This is a part buy, part rent scheme based on the conventional shared ownership model operated by Housing Associations and incorporating recent guidance of the Homes and Communities Agency, Council of Mortgage Lenders and National Housing Federation. Successful applicants will normally buy between 50% and 75% of the value of their new home. They pay a subsidised rent on the remainder. The cost of legal fees, valuations and stamp duty, where applicable, will in certain circumstances be paid by the Trust. The purchaser can choose to increase their share of ownership as time goes by, eventually achieving full ownership.
The Trust may exercise a right of first refusal to repurchase the property at the current market value in the event of a sale after staircasing to full ownership. This will allow the provision of further affordable housing via The Trust.
Affordability
The Trust sells at a percentage of current Open Market Value. Rental payments and equity loan charges are normally based on 2.5% of the unsold equity. Annual increases will normally be no more than RPI plus 0.5%.
Trust purchasers will pay the same service charge as other purchasers on the site as well as ground rents, if charged. They will have exactly the same rights and obligations as open market purchasers.