Our equity share scheme gives ministers the opportunity to own a part-share in their home. This is reflected as a percentage of the value of the property and becomes part of their estate.
To keep to our mission of housing only those ‘of limited means’, we need to know the details of our applicants’ savings. The expected rate of contribution will be on a sliding scale, based on means-testing. There is no minimum resident’s equity share and the resident may hold a share of up to 70% of the property. The benefit of any appreciation in value is shared by the resident and the Society, but cost of maintenance is borne by the Society alone.