Invest in Skylark
Leave a commentWhy should I invest in Skylark?
You’ll be helping to provide affordable, secure housing in
Brighton.
Our Co-operative will continue to provide a home for future generations of co-operators, never making a profit for a landlord. (Read more about co-ops, and ours specifically in the ‘About us’ section.)
We’ll keep in touch, and you’ll always know where your money is invested.
How much can I invest?
You can choose to lend Skylark between £500 and £20,000.
You can choose to lend this for 5 years or for 10 years, which means that after that time you will get back the lump sum of what you invested + however much interest you opted for.
How much interest will I get?
You can choose your interest rate – either matching inflation, or at a fixed rate between 0% and 3%
When can I invest?
Now – We are looking to raise upwards of £40 000 worth of loan stock (the name we give to financial investments) in order to purchase the house next door. This is an incredible opportunity for expanding our co-op, and will provide affordable, fully-mutual housing for up to 7 more people, doubling the size of our co-op and significantly increasing our communal space (which is currently lacking).
Read more about this at: https://skylarkhousingcoop.wordpress.com/2020/11/23/buying-the-house-next-door-and-expanding-our-co-op/
What exactly will my money go towards?
The following is a breakdown of how much we want to raise and what it will be spent on:
- Purchasing the adjacent house (including cost of buying: legal fees, survey etc): £40 000 to cover our portion of the deposit (approx. 10% of the cost of the property)
- Loft Conversion in the new house to create 2 new bedrooms and a shower room: £30 000
- Building a timber-framed ’roundhouse’ in the garden between the two houses to use for meetings and community events: £20 000
If you’re interested in investing loanstock, please contact us: info[at]skylarkhousingcoop.org.uk
