Affordable Homes for Local People
As well as providing an innovative design solution for delivering affordable homes, Common Home has developed a bespoke design, delivery and management service that public landowners can use to provide much-needed homes on their small sites.
We believe that custom-build has a significant part to play in addressing London’s acute housing crisis. Historically, however, custom-build has struggled to take hold in any meaningful way due to several factors, including the cost of acquiring land, planning risk, lack of financial resilience, capability, and resistance to new models of ownership.
Our proposal tackles each of these obstacles through innovative solutions, opening up the market to a wider range of people. This is achieved through the formation of a unique partnership between enlightened Local Authorities, an experienced professional team, and a cutting-edge financial technology company.
Common Home is a partnership with public authorities which we believe can open up custom-build to a wider market, delivering homes which will be beautiful, flexible, sustainable and affordable. Our ambition is to make custom-build available for everyone.
Common Home provides affordable homes for local people via an innovative partnership between local authority, architect RCKa, and a FCA-regulated financial technology platform Native Finance. This collaboration allows us to strip out unnecessary costs and risk from the development process in several ways.
Principally, land proposed for development is retained by the local authority but used to secure development finance though Common Home. Rather than receiving a capital receipt, the Council instead obtains enhanced ground rent at a combined level below the recognised affordability thresholds.
Utilising Modern Methods of Construction (MMC) and BIM, the cost of building is reduced, whilst the time to deliver new homes is accelerated.
Our innovative residential design provides further efficiencies whilst achieving internal areas that exceed space standards. Our web platform enables early engagement with potential residents and provides access to custom-build for those traditionally excluded from the market. This allows residents to customise their homes to suit their own requirements.