“Thanks a million!” -
HMR families take advantage of £1 million to buy new homes
8th August 2006
Dozens of Oldham families affected by demolition proposals have been able to take a step up the property ladder, thanks to a special scheme which allows them to access thousands of pounds worth of support.
More than 40 people have now taken advantage of the Home Plus Plan scheme offered by Oldham Council and Housing Market Renewal (HMR) since it was launched in January 2005.
The scheme offers residents affected by clearance plans up to £35,000 to help them bridge the financial gap between the value of their own property and the cost of a replacement in an area of their choice. None of this money has to be repaid until their new property is sold or the ownership transferred in the future. To date a total of £1.2 million has been accessed through the scheme, which is managed by West Pennine Housing Association.
Charles Moran and wife Ivy say they have been able to quickly step up the property ladder to a brand new, larger home with a garden.
The couple, who have a three-year-old daughter Kathryn, found out their two-bedroomed terraced home on Werneth’s Devon Street could be earmarked for demolition shortly after moving in.
Charles, who works for a semi-conductor manufacturer in Chadderton, said: “It was a worry finding out about the demolition proposals soon after moving in, but it now means we are actually in a better position.”
The family read about the Home Plus Plan, (formerly called relocation equity share) but were not initially sure what it entailed.
“We approached the HMR neighbourhood officers and got lots of information about how it would work. We then understood that there wouldn’t be any monthly payments and that the loan would involve the equity in the home and would not have to be paid back until the new home is sold or passed on.”
Charles and Ivy moved to their new three bedroom end terraced house on Mona Road in June. They used £23,500 of gap funding from the Home Plus Plan, received market value for their home, compensation and had their moving and survey costs paid. The family also received a 30% discount on the house under the Government’s discounted housing scheme for new developments.
Charles said: “We feel extremely lucky to have made this jump to a brand new home in the space of a couple of years. We love the house and Kathryn is going to really enjoy the garden as she grows up here. The Home Plus Plan is a clever scheme. It’s maybe not right for everyone, but it has worked very well for us.”
Tony Camusi and wife Jean are another Werneth couple who have moved to a larger house using the Home Plus Plan.
Tony, who was one of the founding members of the Werneth Action Group moved from a terraced house on Cambridge Street to a brand new three bedroomed house in Erin Close, Chadderton in May.
The father-of-two said: “My wife saw this house and it was love at first sight. It has a big garden so I’m looking forward to planting some flowers and possibly building a conservatory.”
Tony used £13,500 gap funding to help him buy his new house. He added: “I was heavily involved in the Werneth Action Group and became a spokesman. We were never against the regeneration of Werneth and could see the need for investment, but we wanted to make sure our views were being listened to and that we could have our say.
“A lot of people in Werneth will benefit from the money being spent there and property prices will probably rise there in the future after new homes are built. We are pleased to have now moved. The neighbours here seem to be really nice and we’re looking forward to the future.”
Through the Home Plus Plan residents also receive market value for their home, a minimum of £3,800 compensation, independent financial advice and their moving and survey costs.
Councillor Dave Hibbert, Oldham Council’s Cabinet Member for Environment and Regeneration, welcomed the success of the scheme and added: “Many people have grasped the opportunity to move to new homes using the Home Plus Plan. It is giving people vital support to buy new homes that they are happy with. We are committed to giving local people affected by HMR plans as much as help as possible to enable the regeneration of the areas that are in need of investment.”
To find out more about the Home Plus Plan contact the neighbourhood office in Werneth on 0161 911 4246 and the Derker neighbourhood team on 0161 652 8873.
Home Plus Plan is also available to residents affected by demolition proposals in East Central Rochdale (Bellshill, Cloverhall, Hamer, Mayfield, Town Head and Wardleworth). For more information, telephone 01706 745128.
Images: Charles and Ivy Moran with their daughter Kathryn outside their new home (above) and Tony Camusi outside his new house (below)
