Homes on show

First-time buyers can find out about hundreds of new starter homes in five south-east London boroughs at an exhibition taking place in Greenwich on Friday 23 January, 2009.

The event has been organised by 14 housing associations responsible for delivering the Government’s Housing Options programme, which was recently extended to buyers other than public-sector key workers.

All first-time buyers with a household income of less than £60,000 a year are now eligible for shared-ownership (part-rent, part-buy) new homes offered by associations and their private-developer partners.

To widen the net further, first-time buyers can boost their ability to buy a home outright by borrowing a government-backed equity loan, in addition to a normal mortgage, which defers payment for five years. This scheme is called HomeBuy.

Details of new homes in the boroughs of Bexley, Bromley, Greenwich, Lewisham and Southwark will be available at the exhibition, with advice on offer from solicitors and independent advisers. Shared-ownership prices start from less than £50,000.

Housing Options is promoted as “the gateway to affordable housing in London”. However, there are concerns that many buyers are unaware that they qualify for special treatment, while others are confused by the raft of government-backed schemes on offer. The two main HomeBuy housing association agents in London are Metropolitan Home Ownership and Tower Homes.

For more information, visit www.housingoptions.co.uk, or call 0845 230 8099. The show is open from 2.30pm to 7.30pm on Friday at Novotel Hotel, 173-185 Greenwich High Road, SE10.