Pocket was delighted that Sir Steve Bullock, Mayor of Lewisham and Lewisham Housing Chief Cllr Damien Egan kicked off the construction of 26 affordable Pocket homes yesterday for local people in Lewisham.
Announced in the government’s Spending Review yesterday, ‘London Help to Buy‘ is a punchy new addition to the Help to Buy family. And now that we’ve got our heads around how the Help to Buy equity loan works in principle, we can easily understand the London version. When coupled with the government’s commitment to create 200,000 starter homes, things should be easier for first time buyer in London, which is great news.
In simple terms, from early 2016 first time buyers in London will be able to borrow up to 40% of a new property’s value from the government, interest free for five years. This means that buyers will need to raise a smaller mortgage, which will open the market up to more people on lower incomes. Pocket hope this will help even more first time buyers to get a foot on the property ladder.
How to make your Pocket flat a home
Furnishing a new home is possibly the most exciting part of the homebuying process… Which sofa? What bed? Colour scheme? Accessories? For first time buyers, while it may be exciting, it can also be a bit daunting. And when you’ve only got limited space, it’s even more important to get it right.
A Pocket home is our customer’s castle, and before you even move in it has the makings of a home. We’re really proud of Pocket’s carefully planned interior layouts, which maximise the space and flexibility residents have for their furniture. We use neutral colour schemes so you can add furnishings in the hues you choose. And we have built-in wall lighting to give you a great ambience. Finally, we provide plenty of storage so you can tidy away the clutter.
Western Road UB2 show home now open
Take a peek at our latest show home in Western Road UB2, which has just been designed by our friend Kelly at Birdy Design, using a mixture of owned, found and bought pieces. Just like our first time buyers, at Pocket we like to keep our costs low and make the most of anything that we already have, so Kelly had a pretty tricky task as we asked her to re-use quite a few items of furniture that we already had in storage.
Fair to Middling, and how Pocket fits in
The latest report to be published on London’s housing crisis, Fair to Middling, is specifically focused on intermediate housing, whether it’s working, and how it can be improved. The Commission on Intermediate Housing (COIH) was set up following the Centre for London’s 2014 report, Hollow Promise, which highlighted that London needed to prioritise ways of making housing for low- to-middle income earners more affordable. The COIH has been jointly chaired by councillors from two very different London boroughs, Kensington & Chelsea and Haringey, with input from a range of eminent contributors – including Pocket’s very own CEO, Marc Vlessing.