Buying over renting for sustainable ministry in Edmonton
We spoke to Jonathan, one of the elders of Silver Street Community Church, about their Kingdom Bank mortgage which helped them to buy a new home for their minister.
Can you tell us a bit about your church?
Silver Street Community Church is based in Edmonton in North London. We were planted out of another church in Enfield around 8 years ago, with a vision of bringing the good news of the gospel to the people who live in our surrounding area. We are part of a partnership called ‘Together for Mission’, and along with four other churches, we have a real heart to see people in Enfield coming to know Jesus for themselves.
The borough of Enfield is a real mix, as there are some very affluent areas, but also places struggling with deprivation. Where we are based in Edmonton, there is a need for support, with lots of people in difficult circumstances, so we wanted to bring the same gospel into a different context. We are still working out what that looks like, but we want to help people in the circumstances they find themselves in. We are in a very diverse local area, with a mix of backgrounds and life experiences, so we are building ministries around serving the community, sharing practical love with them, but also sharing the gospel with them.
Every Friday we run a café and outreach hub, which includes English language classes, a Turkish Bible study, and Enfield grace advocacy, which provides practical support for people experiencing housing or benefit issues. This is a great opportunity to sit and chat with people in a relaxed environment, reaching local people and helping with their needs. Recently, this has looked like showing love and support to those in our area impacted by the earthquakes in Turkey and Syria. There are lots of Turkish people from the regions affected who live nearby, and many have lost loved ones back home. This has really shown the relevance of the support we can provide to our community, as we walk alongside people and care for them.
What led you to purchase this property?
Our mortgage with Kingdom Bank has enabled us to buy a home for our minister. We concluded that we have previously been spending close to £20k per year on rented accomodation and felt that it would be a better stewardship decision to pay that money towards a mortgage.
We also felt it was important to provide a more permanent base for Luke and his family, for them to have somewhere that really feels like home. The house also gives opportunity for ministry with their neighbours and the community. The property is only a ten minute walk from the church, and we felt a real conviction that we needed to be part of the local area if we wanted to reach local people with the gospel.
How were Kingdom Bank able to help?
Kingdom Bank were able to provide a mortgage, which covered the costs we couldn’t fundraise and didn’t have in our deposit. We felt that Kingdom Bank team gave a good impression, and understood our vision for the manse, but also the church more broadly. You were keen to support us and were thorough throughout what turned out to be a fairly complex transaction.
Andrew showed real patience as he walked us through the process, and he helped us to get the purchase over the line. We found having someone who understood our situation was hugely beneficial, and the service was always personal and effective. This purchase didn’t feel like we were being handled by a machine, or someone who didn’t understand our setting and circumstances, it was all very personal.
What will this property enable?
For Luke and his family, this house provides an established base in the local community, and takes away some of the stresses of renting, knowing they won’t be told to leave without much warning and be left without a home. It allows them to build relationships in the community, knowing they are settled there. The house can be used for Bible studies, hosting church family, and there’s enough room for Luke to have an office space if needed.
As a church, aside from the obvious opportunities for ministry, this property helps us financially in the long term, providing a resource for the future. For now, it helps reduce our outgoings on housing costs, and makes us confident that we can continue to be sustainable in ministry in this area.
Is your church, charity or Trust interested in purchasing a residential property for a ministry worker? Read more about our housing mortgages or get in touch. We’d be delighted to help!