 Estimated costs and cashflow
Earlier applicants will pay less for their homes. We expect that in the next phase of recruitment the house prices will be in the region of £130K to £285K. These prices may vary either way due to changes in the housing/construction market and the risks facing the project between now and the time when we are ready to take on new members. Please email if you want more details of the prices of the units or of our variable pricing policy.
The build costs will largely be financed by a corporate loan. It is anticipated that this will be a rolling loan facility. This loan will cover a maximum of 70% of the project costs, therefore members have to put down a 30% deposit.
The money required from members at different stages in the project is as follows:
| On joining |
£5K |
| Within 3 months of joining |
30% (or more) of projected house cost (minus £5K already provided) |
| Build completion |
Cash or individual mortgages for the remaining 70% (or less) |
Members who have more than 30% than the projected cost of their house will be encouraged to pre pay more.
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