Secure Homes model

    The Secure Homes model is an assisted ownership programme. The aim of Secure Homes is not only to provide decent and affordable housing, but long-term housing stability and security in the same way that home ownership does. 

    Secure Homes is based on a leasehold agreement between the Housing Trust and the household. Essentially, the Trust retains full ownership of the property and the household purchases the right to occupy that property at the cost of house construction (excluding land). The household then pays an annual ground rent to the Trust for use of the land, which is set well below market value and only ever increases annually with inflation for the period the household remains in the programme. This ensures the initial purchase price and ongoing ground rent remain affordable for the household in perpetuity. 

    The Secure Home agreement provides the household with a home for their lifetime. Secure Homes is not a rental arrangement. A household in the Secure Homes programme has all the benefits and responsibilities any homeowner has, except the ability to on-sell the property in the private market. 

    The lease cannot be transferred or on-sold on the open market, but should a household decide to move on, the Trust will purchase the house back at the original purchase price, plus an annual inflation adjustment (provided the house has been well maintained). If the household has made any improvements to the property which the Trust has approved, then these too will be factored into the resale price.