Homes for Wells exists to provide affordable homes for people who work in Wells and the surrounding parishes of Stiffkey, Holkham, Wighton and Warham.  We invest our money in buying and managing affordable properties: the board receives no remuneration and our shareholders receive no dividend.  We are a Charitable Community Benefit Society.

As a not-for-profit organisation we buy properties with the help of grants and loans where available; but always need to make a significant cash contribution from our own resources. The number of properties we can buy is limited only by the amount of money we can raise. More than 40 local homes are owned, allocated or managed by us; but about the same number of families who desperately need affordable housing are on our waiting list.
 

Providing affordable homes (that is, properties let at less than 80% market rate) is not without challenge. The beautiful North Norfolk coast is a very desirable location: properties in and around Wells are limited in number and sell at a premium.  This means the market rate to rent or buy is pushed, inevitably, beyond the reach of those earning a ‘local’ wage.
 

For the town to thrive it needs a settled working population so, for example:

• the businesses we all use can find and retain staff
• the town is well-placed to retain essential amenities (eg our medical centre, schools and shops)
• there are sufficient volunteers within the town to staff the RNLI, Fire and Rescue Service, and the organised volunteering sector more broadly
• local family networks can remain close – providing vital help with childcare and support to our elderly population. The strength and length of an applicant’s connection to Wells is an important part of our allocation policy.
  
  We believe these considerations are important to all who are invested in the town as well as those who want to spend their time in a vibrant and thriving community.  Our long-term aims are therefore founded on two objectives:
• to ensure that there is enough affordable housing in Wells for all who work here but cannot afford (or do not qualify) for other forms of housing; and
• to provide a stepping stone for those who aspire to home ownership.