Bellway Housing Trust will act like a housing association but require no public subsidy.
Bellway Homes is to provide affordable homes through a new Housing Trust. Bellway Housing Trust will offer a range of financial models to encourage first time buyers. These include shared ownership and equity mortgages where the Trust retains an equity interest in property.
Bellway said the Trust would operate without the need for a public subsidy.
Chief Executive of Bellway, John Watson said: “The Trust will enable first-time buyers and those on moderate incomes to get a foot on the housing ladder allowing them to share in the asset value of their property.
Bellway said that its financial options would allow homeowners to increase their initial share in the property eventually achieving full ownership.
Bellway said that the Trust was not a housing association but it would work with Registered Social Landlords and in partnership with local authorities to provide mixed tenure solutions to site development when required.
Bellway said the Trust would work alongside Bellway’s divisional network to create a portfolio of affordable housing across the country.