Decision details

To consider proposals for a custom build mortgage scheme

Resolved

(1)          That agreement be given to join the Bespoke/Custom Build (BCB) scheme, but limited to an initial pilot scheme of 10 BCB mortgages, for launch in early 2018. 

(2)          That authority be delegated to the Executive Director: Finance and Governance, in consultation with the Lead Member for Financial Management, to extend the scheme to new applications once the success of the pilot has been assessed and further capital funding is in place for additional bridging loans.

(3)          That authority be delegated to the Executive Director: Finance and Governance, in consultation with the Monitoring Officer and Lead Member for Financial Management, to enter into legal agreements required for the Bespoke/Custom Build scheme where land is owned by third parties.

(4)          That authority be delegated to the Executive Director: Wellbeing, in consultation with the Executive Director: Place & Growth and the Lead Member for Housing and the Lead Member for Estates & Economy to set the criteria for prioritising access to the scheme for applicants with a local connection.