24th July 2018

Mortgage Awareness meeting


Facilitator: M.Howard           6.30-.6.45pm
-         Overview of agenda to group.
-        Introductions.
SGCLT Project Update and Individual Financial Information Request to whole Group – Registration deadline 01/09/18
Facilitator: Tom Morris 6.35-6.45pm
Financial Information Request:
Reminder to Group in need of affordable housing of Financial Information request by 01/09/18 in order to formally be on SGCLT Housing Need Register.
The following 3 points were emphasised:
1.     You can still be in the CLT even if you cannot get any mortgage.  We expect quite a few of us to NOT to be able to get any mortgage and so we are aiming to create affordable rental properties, e.g: if we build 10 houses, 5 might be affordable with a mortgage and 5 affordable rental
2.     We have to ask you to provide us 2 pieces of evidence by 1st Sept- to REGISTER your need with our CLT, this is not committing you to anything and you will not be letting us down if things change. Registering with us NOW will put you in the best position you can for a home.    It only takes 2 hrs max to do what we're asking:  
·        Register on Devon Home Choice and send M.Howard your email evidence of Band of housing need (Band E is normal called 'no housing need'-this is fine) 
·        See a FREE mortgage adviser - we have the phone numbers of people you can see, who are friendly and won't charge. We need a "Mortgage offer in principal" letter, even if it is a decline letter for a mortgage.
Tom Morris’ employment with SHDC.
Group informed of this and action to safeguard against conflict of interest explained.
Land News Update:
No further news, positive collaboration with SHDC continues.
Action items
Person responsible
Provide SGCLT – 2 pieces of evidence: (1) Mortgage offer or decline letter and (2) Devon Home Choice Band Letter.
All- Every Individual in need of housing

Confidentiality, GDPR and SGCLT Privacy Notice.
-        Overview of use of information by SGCLT.
-        Every person received personal copy of Privacy Notice document.
-        Returned to M.Howard, with signature by end of meeting, to be retained by SGCLT.
Action items
Person responsible
Sign permission letter for SGCLT GDPR and retain copy of Privacy Notice
SGCLT Share Sale Request
Facilitator: M. Howard 6.55-7.00pm
-         Every member asked to recruit 10 new SGCLT members and continue community involvement and awareness raising of local housing need.
-         Share membership forms distributed to group. 
Action items
Person responsible
Find 10 SGCLT new members
Main Presentation – Mortgage Awareness and Preparation
Presenter: Nigel Dixon and James Richards. 7.00-8.25pm
·       Introduction – Mortgage Broking an overview of our role in the house buying process. Explanation of how we as an advisory firm earn our money.
·       Mortgages – An explanation of what a mortgage is and the possible structure of the debt and term of the facility.
·       Ages – Minimum and maximum
·       Deposit – Possible sources and evidence required
·       Loan to value ratio – effect on interest rates
·       Shared Ownership – Options available
·       Affordability – Lenders assessment guidelines
·       Credit scoring – What this means and the effect of your credit report
·       Adverse credit history – Credit reports, the effect of adverse history on lenders assessments. Credit reports – how to obtain a copy.
·       Credit scoring – What this means and footprints on credit files
·       Income – Employed, self-employed and receipt of benefit – what the lender looks for as regards evidence
·       Bank statements – lenders requirements
·       Identification –
·       Product options – an overview of tracker and fixed rate options and an explanation of the benefits and drawbacks.
·       Help to buy equity loan
·       Help to buy ISA
·       Home buying process
·       Solicitors
·       Valuation
·       Home insurance
·       Life/CIC
Action items
Person responsible
Meet Mortgage Adviser and get Mortgage offer in Principal letter.
Feedback Form, thanks and closing of meeting
M.Howard 8.25-8.30pm
Training Feedback Form distributed to group and completed by all present.
Thanks to all for attendance.
Action items
Person responsible
Completed Training feedback form
12th July 2018

SGCLT Update to Village Neighbourhood Plan Team

Progress of the Stoke Gabriel Community Land Trust (SGCLT) July 2018
News Update
1.     As reported in last month’s update, our SGCLT Chair; Tom Morris, has been working closely with South Hams District Council to shape the support offered to SGCLT, to reach the shared goal of both organisations, to create good quality, affordable homes for local people.  
As a result of developing this collaboration, Tom has been offered a paid post as part of SHDC’s Affordable Housing team; working with their team to develop affordable housing schemes across the South Hams and West Devon. Following careful consideration, relating to the issue of conflict of interest, it has been agreed by SHDC and the SGCLT Board, that Tom will remain as Chair of SGCLT, however he will not be involved in any internal meetings at SHDC that discuss plans connected with Stoke Gabriel.
2.     At SGCLT’s most recent Board meeting, Rob Ellis from SHDC outlined his thoughts for working together. This initial proposal included funding and advice to get through planning, partnering on site development and building, and even looking at providing mortgages for group members.   There are other options open to SGCLT for developing a prospective site using grant funding from the Community Housing Fund and build loans. Any decisions on how we proceed will be taken once land is secured and viable.
3.     SGCLT’s General Data Protection Registration (GDPR) compliance and Privacy Notice for the SGCLT has been completed following discussion and guidance from the ICO and CLT Network.   It is now available to read at our website Marie Howard will be managing the ongoing protection of data.
4.     In preparation for more detailed financial modelling and planning for the development of SGCLT affordable housing, the Board agreed that by 1st September, everyone registered with SGCLT as being ‘in need of affordable housing’ will provide additional data on housing and financial need (Devon Home Choice Banding letter and Mortgage offer feedback).
To support this process, Marie Howard has organised a group meeting, (July 2018) on the theme of financial readiness for home ownership and information on mortgage applications. Its purpose is to facilitate local people -who may have previously believed they could never get a mortgage or their own home -to reach the goal of their own affordable home through taking positive action to improve their finances.
Two local Independent Financial Advisers will facilitate this, each with a great deal of experience to offer -they have both been professional Bank Managers too. The group facilitation is paid for by grant funding obtained by SGCLT. 
Due to school holidays and work commitments, the next update to the NP Group will be in September.  We are open to constructive feedback from the village community, operating in a democratic, professional manner.   
Thank you and wishing you all well in your continued hard work for the Parish,
Tom Morris and Marie Howard (SGCLT Directors), Paul Bedford, Derek Richards and Jeremy Burgess; (co-opted SGCLT Board members)