Whitlock Court, Holsworthy
Our first project was the development of Whitlock Court, a conversion of the floors above a former supermarket in Holsworthy to five self-contained leasehold flats with secure entrance and courtyard. Approximately 70% of the equity was purchased by local people with Homes for Holsworthy managing the common areas.
Do It Yourself Equity Ownership (DIYEO)
Homes for Holsworthy was able to access a “commuted sum” which had been paid to Torridge District Council by a developer in lieu of affordable housing elsewhere in Holsworthy and with this and a further grant from the Council we were able to help four local families to buy their own homes. DIYEO is a unique and innovative scheme which enables purchasers to choose their home on the open market, paying as much as they can afford with Homes for Holsworthy assisting by providing an equity mortgage to cover the remaining percentage of the open market value