Progress of the Stoke Gabriel Community Land Trust (SGCLT) October 2018
1. Maire has been working hard over the summer getting the group members to register with Devon Home Choice. For information DHC have taken over the running of social (council) housing from SHDC and will be responsible for the 10 rental properties on the Cavanna site. All our group members are so far coming back as Band E (Of no housing need).
The Cavanna development is not a rural exception site or Village Housing Initiative and the S.106 is allocating the rental properties via the Local Allocation Policy, so priority Bands A-D with a link to Stoke Gabriel. It will then cascade out to district wide need and therefore it is unlikely households in Band E will be housed. Numbers on the South Hams register in Bands A to D January 2018 (624) July 2018 (701) In Band E (787)
2. Along with this we are now contacting the group to make sure that they are registering with Help to Buy south west. This organisation looks after or advertises via other providers affordable properties to buy through shared ownership. We do not know who will be selling the 5 units on the Cavanna site at this time, but the open market two bed terraces are being offered at £234,995. As an example below:
Weaverys Ways Dartington, Semi Detatched House :
Max £232,500, Min 40%Share £93,000
Rent £299 on 60% , Service Charge £30
A mortgage of £93,000 over 25 years at 3.92% is £487. Totals £487+£299+£30 = £816 month for 40%
Its important that as a CLT we can demonstrate the need for affordable housing in the village, as without a need there is no requirement of affordable housing.
3. We are holding our next Board meeting this month which will start to look at what South hams are offering in the form of a partnership, or if we decide not to what grant funding is available from Homes England.
We are open to constructive feedback from the village community, operating in a democratic, professional manner. Tom Morris and Marie Howard (SGCLT Directors), Paul Bedford, Derek Richards and Jeremy Burgess; (co-opted SGCLT Board members)