Prince Bishops Homes is a subsidiary of Karbon Homes, which is a not for profit, Registered Provider.
What do we offer that is so different
Prince Bishops Homes ‘Moving on Up’ scheme enables people to purchase the home that they are currently renting. We provide the option for our customers to share 50% of any increased house price value, after four years of renting; this can act as a mortgage deposit and prevent people from feeling “priced out of the market due to housing market inflation”. Prince Bishops Homes offer a broad range of support mechanisms, to assist customers in becoming “mortgage ready”; thus providing “generation rent”, with a choice to either buy or remain a tenant.
Our Mission Statement:
Providing customers with qualitative and flexible housing solutions that offer an attractive rental option through a responsible and reliable landlord and a variety of support options to purchase one of our homes.
Quality housing with flexible options designed for you
• Customer First – Keep the customer at the centre of everything we do
• High Quality – Deliver high-quality homes in sought after areas
• Innovation – Flexible housing options for everyone
• Integrity – Openness and honesty in all we do
• Empowered people – Developing individuals who are respected and valued
Who does our model help?
Our model helps those who may not be able to gain access to mortgage lending because they have no mortgage deposit, low credit, zero hours contracts or historical adverse credit issues.
It provides a cost-effective option, for those individuals that do have a housing need but who do not fit into the requirements to access social housing; those who are effectively stuck in the middle.
For those who choose to simply rent, we are a responsible landlord, who will offer security through long-term tenancy agreements and rents which rise only in line with inflation. Our housing stock is well maintained, modern and energy efficient and we have excellent relationships with our tenants.
How can we fund more affordable housing with no grant?
The operating profits of Prince Bishops Homes are re-directed back into building more homes in the North East both through additional Prince Bishops Homes plots, alongside affordable homes with no HCA grant funding via Karbon Homes.
We ensure our business partners:
- Train Apprentices
- Source goods locally
- Considerate Constructors
- New, innovative and preferably low carbon construction methods, that are environmentally friendly
To help our customers become “mortgage ready” we provide support services from a qualified financial advisor. We offer a range of other support services to our tenants, to raise awareness and core skills in financial management:
Prince Bishops Community Bank
This local credit union provides a sustainable and responsible way to obtain credit and avoid payday lenders. Prince Bishops Community Bank offers a real alternative for people to gain access to credit, rather than using loan sharks or expensive and less reputable companies, who charge incredibly high interest rates.
East Durham Partnership
EDP provides cost effective furniture & white goods solutions. EDP is a Social Enterprise initiative that works with major retailers, to provide affordable household products on a shoestring budget.