Find out who qualifies for housing support from us.
Who qualifies for assistance?
A stipendiary minister must serve a minimum of 15 years’ fulltime service (or aggregated equivalent part-time service) in order to be considered for assistance. The minister must have reached retirement age (65 and over) or less if permitted to retire early on grounds of physical or mental incapacity duly approved by the URC. The level of assistance available is calculated based on 40ths.
Here is an illustration:
Minister served fulltime for 17 years
Three years’ training is recognised and added to the service years
Minister therefore has 20 qualifying years
Minister with the RMHS identify a suitable property for £200k
The RMHS offers assistance* up to £100k (20/40ths) and the minister funds the remainder.
(This calculation is for illustration only, other factors such as a minister’s assets and years of service may affect the actual amount the RMHS will provide)
When two stipendiary ministers are married or in a civil partnership when they retire, their service will be combined to determine the level of assistance offered.
At least one of the ministers must have completed a minimum of 15 years’ fulltime equivalent service or a maximum of 40 years, which provides the basis for the calculation.
If a minister dies whilst in stipendiary service, a surviving spouse/partner will qualify for assistance if the minister would have had enough qualifying service up to their normal retirement date.
Unforeseen situations do occur, and, in such circumstances, it is possible to submit a special application to the RMHS Board for consideration.
Are there restrictions?
Yes. Having managed properties and supported tenants for many years it has become clear that some properties represent poor investment both for the RMHS and ministers who have a share. Additionally, some properties become impractical as age can restrict mobility.
A more important piece of criterion we apply is in setting a price ceiling for properties we are willing to purchase in each local area across the mainland UK.
By using a price ceiling, we can both manage expenditure and ensure ministers are treated fairly depending on where they hope to retire to, as property prices vary considerably from region to region.
What do I need to do?
The illustration above provides a basic calculation but the object of the RMHS is to assist ministers who are in financial need.
The calculation of financial assistance from the RMHS towards the purchase of a home considers a minister’s assets and income. If you have come into stipendiary ministry later in life, there is an expectation that you/your spouse will have assets secured during that time.
We use a specific set of formulae to determine the potential level of financial contribution you could make towards the purchase of a home.
If you anticipate/expect to be unable to complete 40 years’ service to the URC then you are likely to need to purchase a share in the property at retirement and you should take steps now to start trying to set aside monies for this purpose.