Home Ownership for Long-Term Disabilities (HOLD)
We have recently developed a partnership with the Isle of Wight Adult Services Department and MySafeHomes to provide the opportunty for people with long-term disabiltites to own their own home through shared ownership.
This is a unique opportunitiy that enables people with disabilities to live independently with support from family, friends and support services. In such an arrangement, Vectis purchase a suitable property, which is chosen as being suitable by the prospective purchaser. A mortgage is raised based on benefit entitlement for the purchase of a proportion of the dwelling. Vectis then charges rent (supported by Housing Benefit) on the remaining element and also signs a service agreement to undertake repairs and maintenance. Throughout the process MySafeHomes advises on financial viability and arranges the morgage and supports the resident with advice moving forward.
The scheme is underpinned by grant from Homes England and the Isle of Wight Council.