Homes fit for Heroes!
1 June 2007 -
Sentinel Housing Association very much appreciates the importance of retaining the skills we need in our key public services, and therefore are delighted to be able to assist Key Workers access local affordable housing options.
The Association is extremely pleased to be the first Housing Association in England to house armed forces personnel under the government's Key Worker programme. The scheme offers low cost affordable homes for the armed forces and other key worker groups to purchase a part buy/part rent basis, or to rent a new property at sub market rentals.
Reflecting Sentinel's ongoing successful delivery of affordable home options for Key Workers, Sentinel were invited to work with the Department for Communities & Local Government, The Housing Corporation and MoD Whitehall to define the eligibility conditions for MoD personnel under the key worker initiative . Sentinel have also help spread the good news to the forces by jointly marketing the programme with the MoD through advertising on local Garrison Radio, adverts in payslips, and opendays.
Corporal Sasha Atkinson is the first MoD applicant to benefit from the scheme, with two more MoD personnel expecting to complete their home purchases, with Sentinel, in the next few weeks.
Corporal Atkinson said, "This was an excellent opportuntity for my husband and I to get a home together and we thank Sentinel for all their help making it a reality"
Sasha purchased her brand new two bedroom house on a shared equity basis, whereby she purchased a 75% share of the property (via a mortgage). Sasha does not pay anything for the remaining 25% of the property. The 25% only becomes repayable if Sasha chooses to sell her home or ceases to be a Key Worker.
The other forms of low-cost-ownership tenure Sentinel offers Key Workers is Newbuild Homebuy (formerly known as Shared Ownership), whereby they part buy, part rent the property, and Intermediate Market Rent. Newbuild Homebuy enables Key Workers to enjoy all the benefits associated with being a home-owner, but at a reduced cost. Key Workers can purchase further shares in their new home as their financial circumstances allow. Under Intermediate Market Rent Sentinel offers properties for rent to key workers at a discounted market rate.
Val Bagnall, Sentinel's Business Director, "'Sentinel are delighted and proud at its contined success in delivering a wide range of quality homes for Key Workers in North Hampshire. Delivering the first Key Worker home for service personnel, in the country, follows on from Sentinel's continued good work with the government to develop the delivery framework to assist service staff under the Key Worker programme
To-date, Sentinel have helped over 300 Key Workers (a mixture of NHS staff, police staff and teachers) in North Hampshire to get onto the property ladder. Sentinel were able to build these properties with funding from the Housing Corporation of £9.6 Million.
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