First-time buyers should head to Canary Wharf this weekend for the East London Affordable Homes Show, where the latest new homes in Hackney, Docklands, the Olympic village, Newham, Tower Hamlets, Waltham Forest, Havering, Barking and Dagenham will be on display.
There’s never been a better time to buy on a budget in this booming part of the city as east London continues to benefit from regeneration, new transport links and the creation of buzzing new neighbourhoods.
The Government's FirstBuy scheme has been extended to March 2016 in London and further investment for affordable home ownership has been committed by the Mayor - to the tune of £100 million-worth of funding - earmarked to provide 10,000 low-cost homes.
All first-time buyers with an income of less than £64,300 a year are eligible for shared-ownership opportunities if they are looking for a one- or two-bedroom home. For buyers seeking a larger, family-sized property, the upper income limit increases to £77,200 a year.
Admission is free — as is the advice on offer from some of London’s leading legal and financial experts and affordable homes specialists. The FIRST STEPS team will be on hand to answer any questions about eligibility and the application process.
Take a virtual 'bike ride' around the East Village — home to the world’s top athletes during the Olympics — where half of the 2,818 homes will be offered on an affordable basis from April 2013. Sales prices are still to be confirmed.
Some of the largest shared-ownership housing companies will be showcasing available properties at this weekend's event. Affordable homes in sought-after locations, such as Docklands, are currently available. For example, a one-bedroom apartment at Windward Court is being offered via FIRST STEPS Shared Ownership from £45,625, meaning the estimated cost of combined mortgage and rent is £628 a month.
For single buyers, Affinity Sutton's East City Point in Canning Town, E16, has one-bedroom apartments for an intermediate monthly rent of £728, including service charges - less than half the market rate of private rents. Young buyers on an income of £21,000, for example, would be eligible to buy, and would live within walking distance of the DLR and Tube stations.
Affordable Homes Show East London: Saturday October 13, 11am until 4pm
Hilton London Canary Wharf, South Quay, E14 9SH
Tickets to the show are free and there is still time to register to attend. Visit firststepslondon.org.