London Rebuilding Society Present their organisation at the HIA Managers Meeting London on 26th September 2018.

2. Who are we?
 Established 2000
 A mutual social enterprise
 Not for private profit
 Social impact and investment

3. 18 years of innovation
 Loans to social enterprise
 Community microfinance
 Business support and training
 Empty Homes Fund - renovated 19 units
 Home Improvement Scheme - 50 homes refurbished, over
100 homeowners helped to date
 The Change Account
 https://www.thechangeaccount.com/

4. Home Improvement Scheme
Making a house a home

5. Market Failure
 1.4 million low income older homeowners living in non decent
homes
 £1.5 billion the cost of home hazards to the economy annually
 £624m cost of poor housing to NHS
 900,000 elderly homeowners trapped in properties not fit for living
in England, struggling to access finance for repairs and renewal
 Over 90,000 in London alone

6. East London Home Improvement Pilot
 £3m worth of home improvements
 Enabled independent living
 Improved quality of life, health, and wellbeing addresses fuel
poverty
 Increased social and economic inclusion
 Improved homeowners economic circumstances:
property value increases
 Reduced blight
 Quantifiable cost savings to public purse
 Owners live independently in comfort and with dignity

7. Social Impact – quantifiable 10 yr outcomes
Single property indicative benefit from LRS intervention only
Homeowner – mental health £10,450
Local Authority – based on £20,000 £ 4,400
Health agencies – GP/hospital visits £ 9,675
Environment – carbon savings £ 1,381
Total £25,906

8. A New Home Improvement
Partnership:
London Rebuilding Society
Legal & General
Age Partnership

9. The Partnership Plan
• 900 households in five years
• Improved and modernised
• Made energy efficient
• Free from hazards
• Out of fuel poverty
• Living longer independently at home
• Improved health and well being
• Better integration at home of care services and support

10. The Product
 New regulated life time mortgage for 55 years and over
 Totally unique post works valuation
 Client can borrow enough to repair and modernise the house
 LRS supports homeowner(s) throughout
 LRS responsible for and carries out all the works
 LRS provide full project management
 All works guaranteed for 6 years

11. How it works
Dedicated Client Relationship Manager
Introduction to Equity Release Advisor to review all the market
products
No upfront payments, and no charges until client takes up HIS
Repayment only when client goes into care or death
Access to grants and entitlement advice and applications

12. Case Study: Ms H’s Story
Ms H is 83 year old living
alone in her family home in
Leyton where she was born.
Due to disrepair of her
house she had become
isolated and lonely which
made her vulnerable to ill
health.

13. Ms H’s story ....
She wanted to repair
her home to live in
warmth and comfort.
She was referred to
LRS, we secured her
a HIS life time
mortgage and we
carried out extensive
works which
transformed her home.
The house was initially
valued at £400k, it is
now estimated to be
work £775k.

14. Ms H’s story.... She said
“I am over-whelmed by
the transformation of my
house and very
impressed with the
support and
professionalism of LRS
in delivering my
beautiful home. The
standard of
workmanship and the
support has been first
class. I feel like a new
person, I would like to
thank LRS and their
team for the new lease
of life my house has
given me.”

15. Ms H’s Equity Calculator
Ms H,s House Price: £775,000 Equity at start: £400,000 Equity Released:
£250,000 Equity after 20 years: £969,484 Plan Interest Rate: 5.00% Assuming
house price inflation of 4% per year

16. Monitoring Social Impact, review, improve
 Detailed information gathered from referral agencies, and home
visits, including:
 Package of home improvement finance and services meets needs
and desires
 Ensure outcomes / impact can be monitored
 Follow up meetings (informal):

17. London Rebuilding Society
Contact details :
Email: homes@londonrebuilding.com
Tel : 020 7997 7333