Homes and Loans

Housing and loans

Managed by Sheffield Homes and Loans. The sources of revenue subsidies and loans currently include the following: Residential and loan funds To confer the full charter, the Church of Scotland Housing for Renated Minister and Widows und Widowers of Minister and Credit Fund was created by the General Assembly to assist in the supply of living space for pensioned minister and widow or widower of minister. Assistance can be provided either by making a home available for rental or by promoting a home buyer credit.

Fiduciaries may approve the renting of one of their current homes or they may arrange to buy a suitable home for rent at the applicant's option. As an alternative, the trustee can provide a home construction credit of up to 70 percent of the property acquisition cost with an up-limit.

It is also willing to consider the support of people who have been able to provide for themselves but are trying to move to a more appropriate shelter. For those who have a pledged home in retired condition, a credit can be given so that they can pay back such a hypothec and then benefit from the favorable interest rate of the housing and loans fund.

Now the Board of Curators also examines requests from surviving dependants or separate life-partners and from separate and separated married couples of working and pensioning minister. A minister who submits an offer within five years of retiring will be provided with a fairly definite undertaking, after approval, that either a home will be made available for rent or a home buying credit will be available.

The Board of Curators shall take action to find a home only within nine month of the scheduled date of resignation of a ministry, or a credit shall be granted only within one year of that date. If the first requests are made about 10 years before you retire, it is useful if a ministry can get a place on the provisional request lists without obligation.

Over the years, gifts and bequests have been important in establishing this housing and loan fund and community support has formed the underpinnings.

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