Key workers and private investors could share the cost of buying a home under a model being explored by a North Yorkshire local strategic partnership.
Under the Half a Home scheme, investors and key workers would split the cost of a house between them.

An organisation, probably a housing association, would match investors with workers and administer the funds. When the house was sold on, investors and residents would share any profit equally.

Peter Annison, chairman of the Richmondshire local strategic partnership, said: "This is a mechanism by which communities could take control of their own affairs rather than wait for Treasury handouts."

The partnership, which has considered several funding models, including an industrial and provident society and real estate investment trusts, would need £40,000- £150,000 to get the scheme off the ground.

It is in talks with Richmondshire, Craven and South Lakeland councils, which it hopes will put up some of the money made from higher rates of council tax on second homes, following a change introduced earlier this month.

Jane Ringer, housing policy officer at Richmondshire council, said: "We have to wait until the county council tells us how much of the extra money from the tax on second homes will be available for us to spend."

Source

Housing Today