Charitable Beneficiaries Policy
Circle Anglia sells New Build HomeBuy properties as a charitable activity. As a result all sales must be in line with guidance on what is considered a charitable activity and checks need to be in place to ensure that buyers are genuinely in need of help.
The purpose of New Build HomeBuy is to help people buy a property who otherwise would not be able to afford to purchase a home within a reasonable commuter distance of their work. The property sold also needs to be suitable for their needs in terms of size.
As a result all buyers are assessed on this basis and are required to attend a financial interview. Proof of earnings and savings will be requested and a decision will be taken on whether Circle Anglia feels a person could afford to buy a suitable home outright in the area.
Circle Anglia has commissioned it’s own research into household income levels. The guide used, based on current Charity Commission guidance, is that households must not have an income which is more than 75% of the average income in the area. Circle Anglia has chosen to use Local Authority areas as the definition of area.
Each application will be assessed based on individual household circumstances.