HOME OWNERSHIP FOR PEOPLE WITH A LONG TERM DISABILITY

(HOLD)

David Abbey – DirectorMySafeHome Limited

Tel: 024 76 402211davidabbey@mysafehome.info

www.mysafehome.info

OBJECTIVESBy 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

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

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

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)

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

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

Tim and Annie

Property Value £160,000

Shared Ownership

60% 40%

Sale Rent

£96,000 £150/m

Service Charge – Housing Association (Repairs & Maintenance) £130/m

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

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

Tina and James

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

TIMELINE

• Open Market purchase 5 – 9 mths. Depends if Court Appointed Deputy required

• HOLD is not for people in crisis!

QUESTION TIME

Fran...with mum and support worker

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.

NEXT STEPS

• Contact David Abbey 02476 402211 or email davidabbey@mysafehome.info

• Complete eligibility form to see if qualify for the HOLD scheme

More happy homeowners...