Homes for Critical Workers in London
Leading London Housing association Notting Hill Genesis has launched a new initiative to make home ownership more accessible for the nation’s critical workers.
As a thank you for their commitment to keeping the country safe throughout the Covid-19 pandemic, ‘Homes for Heroes’, in conjunction with Shared Ownership, is now available at two of Notting Hill Genesis’ most popular developments – Royal Albert Wharf in the Royal Docks E16 and Dockside at Millharbour near Canary Wharf E14.
The initiative is open to all critical workers who currently live or work in London – covering those employed across health and social care, education, public safety, community services and transport* – who are first-time buyers and have a combined household income from £42,000 a year.
Through the initiative, workers can purchase between 25 and 75 per cent of their home under Shared Ownership, and Notting Hill Genesis will charge a discounted rent of 1.5% on the remaining share, thereby reducing the overall monthly payments on the home.
At Royal Albert Wharf, buyers can secure a selected two- or three-bedroom apartment in the iconic new development located in East London’s Royal Docks, one of the capital’s most exciting regeneration areas.
Prices start from £108,125 for a 25 per cent share of a two-bedroom home on the banks of the River Thames, with an overall monthly cost (mortgage, rent and service charge) from just £1,148 under the initiative. Royal Albert Wharf is located close to Gallions Reach DLR, providing links into the centre of the city, and is becoming a vibrant new destination for Londoners with regular community events, workspaces, artists’ studios, a cafe and restaurant.
Critical workers can also choose to purchase a one- or two-bedroom apartment at Dockside at Millharbour, just a 10-minute walk from sought-after Canary Wharf. With prices from £121,875 for a 25 per cent share of a one-bedroom home and an overall monthly cost from just £1,164 under the initiative, buyers can secure an open-plan apartment with a private balcony offering views of London’s skyline at an affordable price. The apartments come with integrated kitchen appliances and luxury features such as comfort cooling in bedrooms.
James Munson, head of marketing at Notting Hill Genesis, said: “The last year has been challenging for everyone and has reminded us all that critical workers are the backbone of our society. As a thank you to them, and with home ownership in London proving difficult for many, we wanted to find a way to help people in these essential roles to purchase their own home in the capital more affordably.”