Fairbourne Equity Release Scheme

Descriptions

The Fairbourne: Moving Forward project would like to invite expressions of interest from organisations who would be interested in establishing an Equity Release/Buy to Let/Sheltered Housing/Housing Association scheme in the village of Fairbourne, Gwynedd.The village is located within the constituency of Arthog, in South Gwynedd, North Wales. With approximately 1050 residents across 542 properties, the village is a socially-active and popular tourist destination along the Cambrian Coastal railway.In the Winter storms of January 2014, Fairbourne suffered damage to some parts of it’s coastal defence, which have subsequently been repaired and although the village only experienced very minor flooding, the community became the centre of a media storm due to this and it’s link with the Shoreline Management Plan (2) which had been adopted by Gwynedd Council the previous year.In order to support this village through the difficulties which have been caused by the erroneous reporting in the media, Gwynedd Council established the Fairbourne: Moving Forward project. This is a multi-agency project that will address the complex issues identified throughout the journey of the community over the next 90 years, drawing upon expertise and knowledge from a range of organisations including Gwynedd Council, YGC, Natural Resource Wales, Welsh Government, Royal Haskoning DHV, North Wales Regional Emergency Planning Group, the Emergency Services, Welsh Water and the local community.The project has identified that given the population of Fairbourne is largely 50+, retired individuals, the village would be a suitable commercial opportunity to establish a form of equity release scheme, allowing homeowners to sell their home to an organisation with the option of leasing it back or, selling their home with a view to that home becoming available for either social or sheltered housing.To find out more information about this unique opportunity, a stakeholder event will be held in Friog and Fairbourne Village Hall on Wednesday 27th January at 11am – 1pm. To reserve your place at this event, please contact: Lisa Marshall – Project Manager on 01286 679591 / 07824 321795 or email lisamarshall@gwynedd.gov.uk.NOTE: To register your interest in this notice and obtain any additional information please visit the Sell2Wales Web Site at http://www.sell2wales.gov.uk/Search/Search_Switch.aspx?ID=37068.