We are not only entering a new year but a new decade, so it’s a great time to take stock of personal finances and improve financial fitness. You may be anxious to become a homeowner as soon as possible or keen to lay the groundwork for buying a house in years to come – either way, there are steps you can take to make sure you’re on track to achieve your ambitions, whatever they may be.(more…)
Stunning new Hackney scheme for 29 local first time buyers
Rosina Street E9 was designed by Hackney-based Waugh Thistleton Architects, and completed in March 2017. The Pocket flats were sold at a 20% discount to the surrounding market and the building is now home to 29 local first time buyers. It’s the second Pocket Living scheme in Hackney, and it’s one we’re especially proud of – when you look at these photos, you’ll see why!
New Greater London Authority targets mean that London will lead the way for zero carbon homes in the UK
We are pleased and proud that the Greater London Authority (or GLA) are championing a drive towards zero-carbon homes in the UK. Last week we welcomed our environmental consultants XCO2 to talk us through how this new policy will work for us.
It has been Pocket’s busiest year to date, and most celebrated…
Since January we have launched seven schemes across five boroughs and moved many city makers into their first homes. The Pocket team have been hard at work!
And we are absolutely thrilled to have been recognised for our contribution to affordable housing across London with these four awards:
Tomorrow London goes to the polls to elect a new Mayor of London. The Mayor is responsible for making London a great place to live, work and visit. For example the Mayor is responsible for things such as policing, transport and the fire service. But significantly for first time buyers, the Mayor has important housing powers. The Mayor must produce a housing strategy to invest in London’s housing and to meet the needs of London’s growing population.
Related Companies makes a ground-breaking strategic investment in Pocket
We are extremely excited to announce that we have attracted a new investor to Pocket. This week we became equity partners with Related Companies, the largest owner and developer of affordable housing in the US. This strategic investment in Pocket is a trail-blazing deal as it brings investment from across the pond into the UK’s affordable housing market. Related have acquired a 50% stake in Pocket, and will be working with us to scale up our delivery of discounted flats for sale and rent in London.
So good they invested twice
We launched the first Pocket bond on Crowdcube back in March 2015, offering 7.5% interest over a four year term, and we quickly achieved our funding goal. Our second bond, the Pocket Land Bond, launched last week and we are already 10% funded, thanks to a good level of repeat investment. We are very grateful to those who show continued support for Pocket, and we contacted a couple of our ‘double-investors’ to find out what it was that attracted them to the Pocket bond – twice.
Helping to make Help to Buy helpful
Help! The government has its heart in the right place, trying to ‘help’ first time buyers with its Help to Buy schemes… and as of today a new one has launched, the Help to Buy ISA. It can all feel very confusing – we’re not promising to ‘deconfuse’ things completely, but here is a brief summary of how Help to Buy works with Pocket, and links to some nice clear explanations.
Pocket Regen, is our submission for the NLA’s recent competition, ‘New Ideas for Housing London’. Pocket Regen is a new way of managing estate regeneration. By engaging openly with estate communities, and offering real reasons to welcome regeneration, we can provide additional 100% affordable housing for the very people that make this city great.
Like marriage, the secret to a successful first time home purchase is compromise.
In what has become a supply-starved London housing market effected by rapidly rising prices, Pocket have built their model around the one facet that first time buyers are not willing to compromise on – location.
The London-based developer prioritises location over size allowing it to deliver first-time buyer homes in good commuting locations at a minimum of 20% below the open market rate capped at the current top price of £260,000.
“Pocket brings a rational approach together with the sort of design flair that makes spaces feel generous and desirable. As the current crisis forces new thinking, Pocket’s initiatives provide a positive example to other housing providers when new ideas are thin on the ground.” Peter Murray, New London Architecture