Dudley Building Society has launched a mortgage for people with disabilities who want to buy their own home.

The society has partnered with disability-support group My Safe Home to work on a government-backed initiative called HOLD, Home Ownership for people with Long-term Disabilities.

This scheme is a form of shared ownership, which allows applicants to buy a share of their home, between 25 per cent and 75 per cent, and pay rent on the remaining share.

Dudley Building Society will offer qualifying applicants interest-only mortgages and will lend up to 90 per cent of the share, at a rate of 3.61 per cent a month, with a term that can exceed 30 years. The mortgage is redeemed when the property is sold.

Coventry-based My Safe Home was founded in 1997 and has helped over 1,400 people to become homeowners through the HOLD programme.

Dudley Building Society commercial director Sam Ward says: “Working closely with My Safe Home helps us honour one of the fundamental cornerstones of our social strategy and underlines our efforts to serve those parts of the population that aren’t served by the wider lending market.”

“We have been hugely impressed with the work being done by My Safe Home to provide the means by which people with a long term disability can own their own home and feel that we can help My Safe Home to make a real difference.”

My Safe Home managing director David Abbey adds: “We’re delighted to be working with Dudley Building Society. Its invaluable support really will help to change the lives of people with disabilities forever. Saying you’re there for everyone in the communities you serve is one thing but truly living up to this commitment is what matters and by supporting HOLD, Dudley Building Society is doing just that.”