Merlion Homes appoints Director to launch new shared equity model to the market

Merlion Homes has appointed a new Director, to launch its innovative new shared equity model to housebuilders and Local Authorities, across the south of England. Chris Williams, who has been heavily involved in the development of Merion’s new Enhanced Shared Equity Model, has joined the company to head up business development and will be responsible for the model’s imminent launch to market.

Chris Williams brings with him over 20 years of experience working with Housing Associations and Local Authorities. Over the last 12 months he has been working with Merlion on a consultancy basis, assisting with the development of their new model, which is set to offer housebuilders and Local Authorities an attractive and mutually beneficial route to providing much needed, affordable housing.

Chris Williams said: “I am really excited to have joined Merlion and to be taking this fantastic new product to market. I really believe that our unique scheme will help homebuyers, developers and Local Authorities alike. It offers the customer a flexible and affordable route into homeownership, while supporting developers in meeting their affordable housing obligations. What’s more, it provides Local Authorities with the opportunity to invest and secure a financial return, while helping to meet the specific housing needs in their area.”

Tony Radford, Director, Merlion Homes, said: “I would like to take this opportunity to welcome Chris to the Merlion team. His extensive knowledge and experience has been invaluable as we have been developing our new shared equity model. As we now launch this product to market, Chris was the obvious choice to head this up for us. We will be reaching out to both housebuilders and Local Authorities over the coming months to make them aware of our new product and we hope to see our new shared equity model becoming an integral part of the affordable housing landscape.”

Through Merlion's Enhanced Shared Equity Model, homebuyers will have the opportunity to purchase a new home from 65% of the market value. However, unlike many other products on the market, purchasers will own 100% of their property, with no rent to be paid on the outstanding share, making this incredibly affordable. The outstanding interest is only realised upon moving (or the buyer can opt to staircase out). The new model has been developed to offer homebuyers a sustainable route into home ownership, while providing housebuilders with an affordable housing solution, that sits seamlessly alongside their private sale offering.

Merlion Homes is committed to delivering solutions that work for both the housebuilder, the Local Authority and most importantly, the homebuyer. Merlion has been working closely with one Local Authority, which is currently piloting the new shared equity scheme. Discussions are already taking place with numerous other Local Authorities, who are expected to adopt the scheme shortly. Merlion has the flexibility to tailor its affordable solutions to suit individual sites and the specific housing needs in any given location.