Bexley New Homes Show Draws Closer
If you have ever considered joining a low cost home ownership scheme in the borough, don't forget that the Bexley New Homes Show is fast approaching - bringing with it an ideal opportunity for local residents and key workers to find out exactly what is available.
The special event, to be held at the Marriott Hotel, Bexleyheath, on Thursday 26 April, between 1pm-7pm, has been jointly organised by Bexley Council and Tower Homes. It will promote affordable home ownership schemes which encourage people to buy a share in a property - with scope to purchase further shares over the years until they own the property completely.
There are two such schemes operating in Bexley. One is called Open Market HomeBuy, and is mainly for key workers and current public sector tenants. Under this scheme, buyers are expected to raise 75 per cent of the purchase price from one of the mortgage lenders participating in the scheme. Two equity loans, one from the lender and one from Tower Homes, then make up the remainder of the purchase.
The other scheme is New Build HomeBuy. This enables a buyer to purchase a share in a new or refurbished home. The buyer normally pays the mortgage on the part they own and a subsidised rent on the remainder.
Bexley's Cabinet Member for Regeneration and Housing, Cllr John Waters said: "This is an ideal opportunity for people to find out more about how they can get on to the local property ladder. Those attending will have the opportunity to talk with representatives from housing associations offering shared ownership in the borough and to find out exactly how the schemes work."
Representatives from Tower Homes, Kelsey Housing Association, Gallions Housing Association, Hexagon and Orbit First Step will be available on the day. Legal and financial advisers will also be on hand to give advice.
