In October the Mayor of London, Boris Johnson visited Waltham Forest to see what all the fuss is about over this end of the Victoria Line. Having toured Walthamstow's Gallery Court, which is a development of reasonably priced homes (also including shared ownership) and flats for rent, Boris had an optimistic outlook on the borough’s potential for regeneration.

Boris' First Steps initiative is an intermediate housing programme designed to support Londoners who have a low and modest income to buy or rent at an affordable price. While the idea of shared ownership does sound promising to many, some are more sceptical about this approach to stepping on the property ladder. 'Buying' a flat on a low deposit but at a costly rate could be problematic if life changes through work/marriage leave you in a tricky position where you need to move but are unable to sell the portion of the property that you actually own. At Wonderlease, we recommend that you research further into such schemes as these new ideas could be an ideal or less ideal solution for first time buyers. If you are interested watch out for upcoming events like last months 'National Campaign' as an opportunity to find out more information.

However, one thing that is for sure is that in Boris' comments in the Guardian's article (Friday 9 October 2015 / Waltham Forest), the Mayor of London sees a prosperous future for Walthamstow. "This area is the fastest growing, fastest changing area in London and house prices are going up. It is important to be able to provide affordable housing in the area."

"It is a great location, walking down Wood Street I can see a lot of money has gone into the area. The schools are improving, there is a lot of green space. What’s not to like?"

Published on 01 November 2015

Source Wonderlease

Written by Marc Cohen

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