Post by justuslee on Mar 12, 2018 15:47:47 GMT
At JustUs we have always been passionate about delivering positive outcomes for people from all walks of life, whether that be improving a persons credit history, helping get people on the housing ladder or delivering a better savings rate for those in retirement.
We have been asked to assist with funding the refurbishment/development of properties for the nations most vulnerable people. It was something we tried to do last year, however red tape got in the way and we had been unable to get the project off the ground.
In the UK there's a housing crisis, we are all aware of this, but there's an even more critical need for individual homes for residents who have learning disabilities and who require 24/7 support.
We have institutions contracted to acquire these properties, once they are refurbished/developed in conjunction with the local councils, occupational therapists, and the families involved. This project will transform the lives of many and we are so proud to be involved.
We have agreed to work under the following 2-6 month timelines;
1. Accredited developers acquire a suitable property that meets the individual needs of the local council resident(s).
2. JustUs lenders will provide a bridging loan to 70% of the open market value or purchase price, whichever is the lower.
3. Accredited developers will bring the property up to the required specification in conjunction with the occupational therapists.
4. Council/Housing association agree long term 15-30 year lease for individual long term care needs.
5. Property acquisition completed by long term financial institution and JustUs lenders repaid in full.
The first properties have been acquired by our accredited development partners and we will be lending up to an open market value of 70%, paying 6.5% p.a. equivalent to lenders and valuations have been instructed and under-way.
It would be really great to get as many of the P2P forumites involved in this worthwhile project, the more money raised, the more safe homes we can help build. www.justus.co/invest/
Kindest regards
Lee
We have been asked to assist with funding the refurbishment/development of properties for the nations most vulnerable people. It was something we tried to do last year, however red tape got in the way and we had been unable to get the project off the ground.
In the UK there's a housing crisis, we are all aware of this, but there's an even more critical need for individual homes for residents who have learning disabilities and who require 24/7 support.
We have institutions contracted to acquire these properties, once they are refurbished/developed in conjunction with the local councils, occupational therapists, and the families involved. This project will transform the lives of many and we are so proud to be involved.
We have agreed to work under the following 2-6 month timelines;
1. Accredited developers acquire a suitable property that meets the individual needs of the local council resident(s).
2. JustUs lenders will provide a bridging loan to 70% of the open market value or purchase price, whichever is the lower.
3. Accredited developers will bring the property up to the required specification in conjunction with the occupational therapists.
4. Council/Housing association agree long term 15-30 year lease for individual long term care needs.
5. Property acquisition completed by long term financial institution and JustUs lenders repaid in full.
The first properties have been acquired by our accredited development partners and we will be lending up to an open market value of 70%, paying 6.5% p.a. equivalent to lenders and valuations have been instructed and under-way.
It would be really great to get as many of the P2P forumites involved in this worthwhile project, the more money raised, the more safe homes we can help build. www.justus.co/invest/
Kindest regards
Lee