Hi all,

I received a request for information from Stephen Edge yesterday, and it included the following:

The 5% capital gain contribution is just one piece of the jigsaw. At present because cohousing is different to the norm the bank (and seemingly all the banks) is just saying a blanket no. I haven’t researched the Earthsong loans yet but I suspect each one may have a different story attached.

What we may need is a simplification of the documents that preserves the cohousing ethos (and the 5% capital gain contribution) but is acceptable to the bank(s).

Cheers, Stephen

We may eventually need to remove the 5% CG in order to get enough banks on board to get everyone across the line, but according to our central banker we are not at that point yet.

Can we allow Stephen time to find a solution before we irrevocably change the documents? The process of drafting any possible changes can be worked in parallel, so we are ready, should that be the course of action we need to take, but let us firstly let Stephen’s process run.

Thanks,

Catherine.