Council helps local people get on property ladder

Published: Wednesday 23rd October 13

Every shared ownership home in a new Wandsworth development has been bought by people either living or working in Wandsworth, the council can reveal.

Working in partnership with housing provider A2Dominion, Wandsworth Council’s home ownership team was able to help dozens of local residents and workers take their first step on the property ladder by purchasing a shared ownership home in Osiers Gate, by Wandsworth Park.

In total, 38 one and two-bed flats in Barratt Homes’ building were bought by local residents and workers, who had sought expert advice from the home ownership team and been registered on the team’s waiting list as eligible for consideration for the homes.

And, the council, developer and A2Dominion agreed affordability criteria, which meant that half of these shared ownership properties were purchased by households with incomes of £38,000 or below.

Councillor Paul Ellis, the borough’s housing spokesman, said this outcome demonstrated how hard the council is working to help local people access new housing opportunities and get on the property ladder.

He said: “We are acutely aware how challenging it is to buy your first home given that house prices across London continue to rise – so our home ownership team is always on hand to offer advice and discuss affordable options that may be available, such as shared ownership and Right to Buy.

“The team also ensures that low cost homeownership housing developed in the borough is offered first to local residents and those working in Wandsworth, which is a priority for us.

“And, through our Affordable Housing Programme we’re working with developers to ensure many of the new homes being built in the borough are available to local people through shared ownership.

“Therefore, I would urge anyone interested to register on our home ownership waiting list so they can be notified whenever an opportunity arises that meets their housing need.”

The council offers first time buyers and council tenants who live or work in Wandsworth wide-ranging advice, support and financial assistance should they be looking to get on the property ladder.

The home ownership team can also provide more information about:

  • Shared Ownership – part buying and part renting a property.
  • The House Purchase Grant – grants to help council tenants buy or adapt a home, or to use as a deposit towards a shared ownership property.
  • Right to Buy – the maximum discount for tenants to buy their council home has increased to £100,000.

A free-to-attend Affordable Housing Open Day takes place this Thursday, October 24, for anyone wanting to learn more about the options available to them.

It runs from 2pm to 8pm in the Wandsworth Civic Suite, Wandsworth High Street.

For more information about the event or to learn more about home buying opportunities in Wandsworth visit www.wandsworth.gov.uk/homeownership or email housesales@wandsworth.gov.uk.

ENDS

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