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OBJECTIVES

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  1. HOME OWNERSHIP FOR PEOPLE WITH A LONG TERM DISABILITY (HOLD)David Abbey – DirectorMySafeHome LimitedTel: 024 76 402211davidabbey@mysafehome.infowww.mysafehome.info

  2. OBJECTIVES By the end of the session you will: • Know that disabled people who rely on State Benefits can obtain a mortgage to buy their own home • See that our shared ownership model makes home ownership safe, secure and affordable • Discover 2 ways to access home ownership • Watch a DVD that gives a parent’s view– how home ownership and personalisation can improve outcomes

  3. AGENDA • History of HOLD • Benefits to owner • How it works • HOLD Mortgages • Timeline • Criteria • Questions • DVD – James & Tina’s story • Summary & Next steps

  4. BACKGROUND / HISTORY OF HOLD • Nigel King’s book – Housing Options 1995 • Team created in 1997 – 2 years of research • First homeowner 1999 – helped over 1100 • Another housing option, provides choice, independence and long term security • Can buy ordinary homes in Northants • Facilitates the personalisation agenda • Our philosophy – home ownership won’t be right for everyone with a disability but they all have the right to choose

  5. WHAT ARE THE BENEFITS? Homeowner can: • Choose where and how they live • Gain security by having a legal share in the property • Stay in their own home for as long as they want • Integrate into their local community (ordinary housing)

  6. WHAT PEOPLE HAVE SAID • Homeowner: “Living here helps my independence a lot and help me to grow in the community”Tim • Parent:“It seems impossible that someone with such complex needs could have a mortgage… but he's got one, he's a home owner and it’s brilliant!”Tina • Care manager: “the possibility of buying two one bedroom flats next to each other and within a mile of parents was a dream come true! The cost to social services has been a fraction of the cost of traditional care AND the outcome better” Valerie

  7. HOW IT WORKS • 18-80 years of age • Buy 25-75% share • Rent the remainder from a Housing Association • Individual chooses property already built on H/Ass site or a property on the open market through estate agent • Housing in Partnership with Support Package

  8. Tim and Annie

  9. Property Value £160,000 Shared Ownership 60% 40% Sale Rent £96,000 £150/m Service Charge – Housing Association (Repairs & Maintenance) £130/m

  10. BUY ▲ Fees approx £5,000 ▲ Mortgage £91,200 5% deposit £4,800 Total £9,800 Rent = £150/m Housing Benefit > H/Ass Service Charge = £130/m Housing Benefit > H/Ass Mortgage interest charged by B/Soc (4.63%)=£352/m Paid by SMI benefit direct to B/Soc (3.63%) = £276/m Top up - paid by homeowner direct to B/Soc =£76/m

  11. HOLD MORTGAGES SMI (Support for Mortgage Interest) key points • New home better suited to their needs • In receipt of DLA Middle or High rate Care or Attendance Allowance for 60+ • In receipt of other qualifying benefits • Mortgages up to £100,000 • Benefit pays interest only • Families can choose to clear mortgages using savings, inheritance or from sale of property

  12. Tina and James

  13. OVERVIEW OF CRITERIA • Middle or High rate DLA Care (under 60) • Attendance Allowance (over 60) • Clean credit history with no outstanding debts • ESA - Support Group or Care Plan (under 60) • Has Mental Capacity or Court of Protection • Care & Support Package confirmed by Social Worker • Ideally no other people living with them – risky! • HOLD not suitable for people with the ability to do paid work. • Have start up costs c.£10,000 • Can afford housing costs of £30 pw

  14. TIMELINE • Open Market purchase 5 – 9 mths. Depends if Court Appointed Deputy required • HOLD is not for people in crisis! QUESTION TIME

  15. Fran...with mum and support worker

  16. SUMMARY • Home Ownership is possible - over 1100 people have done it since 1999 • It gives people more choice about where they live, who with and provides security for life • 2 ways to access HOLD • MySafeHome helps families through the process making it safe, secure and sustainable after moving in.

  17. NEXT STEPS • Contact David Abbey 02476 402211 or email davidabbey@mysafehome.info • Complete eligibility form to see if qualify for the HOLD scheme

  18. More happy homeowners...