Last few homes available under ‘sweat equity’ scheme

Time is running out for homeowners who want to save £10,000 off the price of a new home by pledging to work 500 hours to help build them.

There are 11 homes left at the award-winning Housing People, Building Communities (HPBC) charity’s development in Granby-Toxteth, where homeowners can cut the price of their home by dedicating 500 hours to the community helping to build the new properties.

The scheme was launched to allow buyers to trade ‘sweat equity’ for money off the price of the three-bedroom houses off Kingsley Road, which are priced between £118,000 and £122,000. It is due to be completed in autumn, leaving little time for potential buyers to complete their 500 hours.

Liza Parry, HPBC chief executive, says: “We’re working in partnership with Sanctuary Group to deliver the remaining homes.

“There’s limited time left for home partners to fulfil their 500 hours of what we call ‘sweat equity’. As well as allowing people to exchange their time for cash, this unique approach also enables them to learn new skills and helps to develop a sense of community long before they move into their home.”

One of the scheme’s newest home partners, youth worker Kieran Bohan, is looking forward to starting work on his new property having already helped on neighbours’ houses and says: “This is the best chance we have of getting a house and we can really take ownership of our own home and neighbourhood by working together to build it.”

Potential owners need to live or work in Liverpool and must be eligible for a mortgage. Shared Ownership is also available at the scheme.

About Author: YM Liverpool