RBMHS is an exempt charity registered under the Co-operative and Community Benefit Societies Act 2014 - No. 21462R

Choosing your home

 

Choosing your home

If the Society has an available house in the area you wish to live in we will arrange for you to have a look at this to see if it is suitable for you.

If it does not then we will seek to purchase you a suitable house, usually of your own choice. Houses, bungalows or flats can all be considered. Flats do need careful consideration in light of possible service charges, which RBMHS cannot accept responsibility for.

RBMHS annually sets a ceiling price for the purchases of properties. In 2016 this is £185,000. Ministers can then search for a suitable property in a location of their choice. If you want to and are able you can raise the ceiling price and contribute to the cost of the property. This can be done through the Equity Share Scheme or Interest Free Loan Scheme.

An applicant may make a voluntary contribution and extend the limit of the Society’s maximum purchase price by up to 25%, also an applicant having capital over a certain level may be required to contribute up to 49% of the purchase price, up to the same limit. Such contributions take the form of an Interest-Free- Loan, or an Equity Share [between 20% and 49%] arrangement which become repayable on the tenancy ceasing. For further information on these schemes please contact the Society’s Manager.