Sign up for new homes

First time buyers are being urged to register with the council if they want the chance to own one of the many new apartments now being built at locations across the borough.

Most of the 2,000 new affordable homes planned or under construction locally are available for sale on shared ownership terms.

To qualify, applicants should be first time buyers living in Wandsworth.

Purchasers can acquire a minimum 25 per cent stake in their property. They pay a mortgage on the sum borrowed and a subsidised rent on the remainder.

Deputy council leader Maurice Heaster said:
“Wandsworth has a tradition of helping its younger residents take their first step on the home ownership ladder. For the vast majority of new shared ownership flats in the borough the council is the principal source of buyers.

“Our home ownership unit works closely with the housing associations to ensure they are marketed to local first time buyers. If you want to get started with a home of your own but are put off by the cost, your first call should be to the home ownership unit to find out how they can help you.”

Many of the properties are on new developments built by major UK housebuilders including St George, Wimpey and Laing Homes. Resale properties are also available from time to time.The shared ownership blocks make up around a quarter of the homes for sale. These are usually provided by housing associations who will seek purchasers from the council’s lists.

The council works with a range of associations including Servite, Threshold and Notting Hill.The next major development to be released for sale to council-nominated purchasers is the Assettrust scheme at Point Pleasant, Wandsworth. Marketing of 72 shared ownership apartments here will commence in June.

The home ownership unit is currently nominating purchasers for properties in all parts of the borough including Balham, Battersea, Putney, Southfields, Tooting and Wandsworth Common.

First time buyers can find out more by calling the team’s skilled advisers on 020 8871 6016 or visiting www.wandsworth.gov.uk/newhomes. Over the last 25 years the council-run service has helped 26,000 local people buy their first home.

May 26, 2006