About Bellway Housing Trust
Bellway Housing Trust
Bellway Housing Trust is an Affordable Housing Provider set up by Bellway PLC to provide and to manage affordable homes for sale to people who are unable to afford the full cost of home ownership in areas where they want to or need to live.
Bellway Housing Trust is a wholly owned subsidiary of Bellway PLC and is a company limited by shares, Company Number 248760, Registered Office Seaton Burn House, Dudley Lane, Seaton Burn, Newcastle Upon Tyne NE13 6BE.
Bellway Housing Trust does not pay dividends and recycles subsidies to satisfy Government policy as set out in PPS3 and associated guidance.
Funding for the Trust’s activities is provided through Bellway, although it does, on occasions, and when relevant, undertake schemes with the benefit of social housing grant provided through the Homes & Communities Agency. The Trust is the first private body to have received grant and retained ownership of the completed homes.
The Trust has adopted a portfolio of policies and procedures which govern all its operations which are available for download here. The Trust is also a member of the Housing Ombudsman Service and an Investment Partner of the Homes & Communities Agency.
How the Trust Operates
Bellway Housing Trust provides new homes for affordable home ownership in conjunction with Bellway Homes and generally to satisfy planning policy and discharge Section 106 obligations.
Where a mix of affordable tenure is required, the Trust will work with Registered Providers who will deliver social rented and intermediate rented homes alongside the Trust’s affordable homes for sale.
Homes provided by the Trust include one and two apartments as well as two and three bedroom houses.
Bellway Housing Trust agrees and acceptable approach to the provision of affordable housing with the relevant local authority. Agreed criteria will then be included in a Section 106 agreement or planning conditions. If appropriate the Trust will enter into a nominations agreement.
Bellway Housing Trust requires its homes to be tenure blind. It will, therefore, adopt the same types and specification of homes used elsewhere on a site. Once a potential has be validated as meeting agreed criteria, the purchase process will be identical to that of any open market purchaser and co-ordinated through the same sales team.
Bellway Housing Trust Products
Bellway Housing Trust offers two products.
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 & Communities Agency, Council of Mortgage Lenders and National Housing Federation. The Trust uses the Homes & Community Agency model leases. Successful applicants will normally buy between 40% 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 by paid by the Trust. The purchaser can choose to increase their share of ownership as time goes by, eventually achieving full ownership subject to planning requirements.
Homebuy - This product is modelled on shared equity schemes currently available. The purchaser pays for as much of the property as they can afford through savings and mortgage with the minimum amount normally being 50% of the Open Market Value and Bellway Housing Trust provides an equity loan to cover the remainder of the purchase price. A subsidised rent payment for the equity loan will be required and buyers will have the opportunity to reduce this loan through staircasing provisions. Any outstanding equity loan is repaid at current market values on a subsequent sale of the property. The Homebuy lease allows the Trust to buy back properties or to offer a new equity loan to a nominated purchaser on resale if appropriate, to satisfy ongoing affordable housing needs.
Juniper Walk, Stowmarket, Suffolk
Mid-Suffolk District Council.
Three, 2 bedroom houses for sale on a Sharebuy basis with nominations through the local Homebuy Agent.
Rushcliffe Borough Council.
Ten, 2 bedroom houses to be sold on a Sharebuy and Homebuy basis.
Edison Fields, Netherfield Road, Guiseley
Leeds City Council
Fourteen, two bedroom houses to be sold to local people including those nominated by the Local authority on a Homebuy basis.
The Croftons, Stubbington
Fareham Borough Council.
Two, 3 bedroom houses for sale on a Sharebuy basis with nominations through the local Homebuy Agent.
Alveston Square, South Woodford
London Borough of Redbridge
9, one and two bedroom apartments within a scheme of 42 apartments sold to key workers on a Sharebuy basis.
The Lock Building, Stratford
London Borough of Newham
32 one and two bedroom apartments within a scheme of 130 flats and commercial units sold to local residents on a Sharebuy basis.
Peppermint Road, Lavender Fields, Hitchin
North Herts District Council
11 one and two bedroom apartments sold to local residents on a Sharebuy basis. The total affordable provision on this 140 unit scheme includes 31 homes and flats available for social rent through the Howard Cottage Society and funded by the Housing Corporation and District Council.
Alderney House, Ferry Court , Cardiff
Cardiff County and City Council.
Comprises 24, one and two bedroom apartments sold on a Sharebuy or Fixed Equity basis to persons nominated by the local authority. This provision is part of a large scheme overlooking Cardiff Bay and includes a new park and leisure centre.
Ratcliffe, Gate, Beaulieu Park, Chelmsford
Chelmsford Borough Council
A scheme of 9 houses and apartments sold on a Sharebuy basis to persons nominated by the local authority. Within this scheme Chelmer Housing Partnership have provided a further 12 homes for social rent.
Mansionnes, Newark Road, North Hykeham
North Kesteven District Council
32 one and two bedroom apartments and two bedroom houses sold on a Homebuy basis to persons nominated by the local authority or on a location cascade prioritising local residents. Within this scheme Nottingham Community Housing Association has provided 32 apartments and houses for social rent.
Lyon Court, High Street, Rochester
8 one and two bedroom apartments sold on a Sharebuy basis to persons nominated or approved by the local Homebuy Agent.
Ambleside Court, Vigo Lane, Birtley
Chester Le Street District Council
A Homebuy scheme of 15 apartments and three bedroom houses sold to Council nominees and local residents.
Houghton Close, Asfordby Hill, Melton Mowbray
Melton Borough Council
6, two and three bedroom houses sold on a Homebuy basis.
Sheldon Way, Berkhamsted
Dacorum District Council.
12, two bedroom apartments sold on a Sharebuy basis to persons meeting the local authorities shared ownership protocol. This is the Trust’s first grant funded scheme, with the William Sutton Housing Trust providing houses and apartments for social rent.
Littlekeep Gate, Dorchester
West Dorset District Council
10, one and two bedroom apartments sold on a Sharebuy basis to council nominees. This is the Trust’s second grant funded scheme and in addition includes social rented homes being provided through Weymouth and Portland Housing Association.
Anstey Road, Farnham
Waverley District Council
This scheme provides 27, one and two bedroom apartments. The homes were sold on a Sharebuy basis with a cascade prioritising key workers, especially those employed by Surrey PCT, who sold the site for development.
As part of this scheme Thames Valley Housing Association are providing 27 general needs homes.
Riverside Meadows, Braunton
North Devon District Council
A development of 10, 1, 2 and 3 bedroom houses and flats. The houses have been sold on a Homebuy basis and apartments on a Sharebuy tenure with all sold to persons nominated or approved by the local authority.
Laurel Grove, Pulloxhill
Mid Beds District Council
This development provides 7, 2 and 3 bedroom Sharebuy houses for local people.
Byron’s Place, Hucknall
Ashfield District Council.
This scheme comprises nine, two and three bedroom houses sold to local people of a Homebuy basis.
Heritage Park, Duston
Northampton Borough Council
This scheme, when complete, will provide two, two bedroom houses sold on a Sharebuy basis.
Parchment Place, Havant
Havant Borough Council
This scheme provides 13 one and two bedroom apartments and two and three bedroom houses sold on a Homebuy basis.
Meadow View, Cuckfield
Mid Sussex District Council
The scheme provides three, two bedroom apartments sold to local people on a Sharebuy basis through a nomination agreement with the local authority.
London Borough of Tower Hamlets.
Three one and two bedroom apartments provided on a Sharebuy basis and subject to a nomination agreement entered into with the Local Authority.
Parkside, Seacroft, Leeds
Leeds City Council.
This regeneration scheme is supported by social housing grant from the Homes & Communities Agency provides ten homes with two, three or four bedrooms. These have been sold on a Sharebuy basis through a Nominations Agreement entered into with the City Council.
Darcey Park, Ibstock, Leicestershire
North West Leicestershire District Council
24 one and two bedroom homes being sold on a Sharebuy and Homebuy basis to persons registered with the Homebuy Agent.
Sunbeam Gardens, Coventry
Coventry City Council
This scheme, when complete, will provide 24, two bedroom houses sold on a Homebuy shared equity basis.
We anticipate announcing details of new Housing Trust schemes in the near future.