Barking and Dagenham residents urged to act quickly over new housing development
Local people have been urged to act fast after the latest affordable housing scheme in Barking and Dagenham completely sold out within a few weeks.
The Leys Estate was launched at the start of October, but local people have acted quickly to secure the 34 new shared ownership properties that were put on offer.
The housing market affects millions of people across London but Barking and Dagenham council is pioneering new forms of affordable homes to satisfy the demands of everyone living in the borough.
Local people who earn the London Living Wage are certainly benefitting from the new developments taking place.
First time buyers including couples or young families are getting the opportunity to buy a share of their property and pay rent if they cannot afford the mortgage on 100 per cent of a home.
If you were unable to get into the Leys, there is another impressive opening taking place before the end of 2018 when Kingsbridge Terraces offers another stunning new expansion.
"Another great example of our borough-wide offer to provide homes"
Shared ownership will become available on 27 new maisonettes and houses within a major regeneration area close to Barking town centre.
The estimated monthly rent for a brand new two-bedroom maisonette is £550 with a minimum share value of £80,000 for 25% of the property.
This new development is designed to help local people buy their own home with a mortgage deposit from only £4000.
Councillor Cameron Geddes, Cabinet Member for Social Housing and Regeneration said: "We have always prioritised giving our residents a range of different housing options and the strong take-up at The Leys shows these schemes are proving to be a major success.
"Kingsbridge Terraces is another great example of our borough-wide offer to provide homes at varied tenures to meet the needs of as many people as possible."
To register your interest in Kingsbridge please contact the Currell Shared Ownership team on 0207 704 5618 or email email@example.com.