We know we can buy a one bedroom flat or studio flat around Tottenham and we can afford a fairly decent size mortgage but with house prices rising due to gentrification around Tottenham (who would have ever though it could happen in Tottenham?) we need to raise £50,000 to be able to buy the flat. It’s a big amount we know, but by getting a lot of smaller amounts we hope we can raise this sum. We have managed it before. So, we are hoping people would be up for loaning us money to achieve this. Ideally we would like to borrow any spare money you have sitting in bank accounts earning money for the rich bankers but giving you nothing. By lending us the money you won’t just help us house someone who is about to be homeless, you are helping secure affordable housing for years to come as the homes will all be kept in collective ownership way after all of us are pushing up daisies. Obviously if anyone has money burning a hole in their pockets and they would like to donate the money rather than loaning it that would be fantastic. Yes we know – a long shot, but we might as well ask. To give us some security, loaning us the money for at least five years (or longer) at zero percent interest would be fantastic but we’re happy to chat about shorter lengths of time or even a bit of interest. Even if we got £50k for three years, it means we then have the time to raise the money to repay you and it still allows us to buy a flat now. If you are interested and want to know more about what’s involved when donating or loaning to us via loanstock, fill in our contact form here (link opens on a new page)
Thank you!
Mary Ann Johnson Housing co-op 