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Reasons to Use Houseproud
Houseproud has been specifically engineered to assist local authorities to move away from the reliance on grants as a means of delivering repairs, adaptations and improvements in private sector housing to those who are over 60. Houseproud provides a method by which local authorities can respond to the Regulatory Reform Order (Housing Assistance)2002 without complex and expensive administrative arrangements and at the same time safeguarding the interests of the elderly home owner and the reputation of the local authority. Houseproud provides access to equity release loans if they are the solution to the needs of the homeowner, thus freeing up local authority resources. Access to equity release as a method of funding may fall within the established local authority housing strategy, or, be under consideration as a means of encouraging access to loans to help vulnerable homeowners improve their housing conditions. It is appreciated that every local authority will have its’ own priorities as to where funding is directed and to where needs are greatest. However, circular 16/88 of the 1985 Housing Act states “the prime responsibility for the maintenance, repair and improvement of the private sector stock rests with the individual home owners”. That does not mean that equity release as a method of funding replaces grants: it does mean is that it augments grants and increases the capability of the local authority and its’ delivery agency to do more and cost effectively. Recent research has shown that Houseproud is seen to be a responsible and cost effective response to the over 60 homeowner client group. The degree of assistance and customisation of the Houseproud Partnership lies with the local authority partner as to what they will offer within the envelope. However, key points that are embedded within the Houseproud Partnership remain throughout: Guarantee of no repossession and no negative equity The empathy of the Dudley Building Society in striving to assist the client group. The contribution made towards delivering Decent Homes amongst vulnerable owner occupiers. It is the only national scheme that is levering in private finance to the housing renewal strategy. The flexibility of Houseproud in delivering positive outcomes as circumstances change. Customisation of the Houseproud Partnership offer can be tailored to meet the local authority level of service to ensure a clear message is passed to the enquirer as to “the local authority offer” as is the same message portrayed by the Nottingham call centre.
The Houseproud Step by Step Guide The Step by Step Guide has been in operation since 2006 and represents a methodology that is acceptable to other agencies in both collecting and processing information to assist the client and achieving positive outcomes. It sets out the “full” process likely to be followed by the client, HIT, the case officer, the lender, a solicitor, the valuer (not always necessary) and the technical officer. The procedure and the supporting paperwork trail have been approved by the FSA (Financial Services Authority).
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