Pocket homes are sold at a 20% discount, but they’re 100% ownership. That’s why we get asked a lot – ‘What exactly is the catch?’.
There is no catch – but you do need to be eligible to purchase one of our Pocket homes. That’s because our mission to make sure we’re helping middle earning Londoners (we call them city makers) onto the property ladder.
Read on to find out about the Pocket eligibility criteria.
You must be local
We build our homes for Londoners, so they’re only sold to those who live or work near our homes. In other words, you must live or work in the borough of a development to be eligible to buy a Pocket home there.
We recommend registering for a My Pocket account so we can let you know when there are homes for sale in your area. You can also check out our developments to see what boroughs we’re selling homes in right now, as well as upcoming developments.
You must be a first time buyer
Each Pocket development is special because it becomes a community of first time buyers. You can’t buy a Pocket home if you own another property, so all your neighbours will be brand new homeowners just like you.
We always provide shared spaces such as roof terraces, allotments and co‑working spaces to foster a spirit of togetherness. Before buyers move in, we host a welcome gathering so you can get to know your new neighbours. Later, we help each development set up a residents’ management committee to decide how the building should be run.
You must earn a modest salary
To purchase a Pocket home, you must have a household income below the Mayor’s salary cap of £90k (although occasionally a Local Authority might impose a lower income cap than this). Teachers, nurses, chefs, engineers, designers and web wizards end up buying our homes – the people who add vitality and creativity to our city.
By discounting our homes, middle earners can make their dream of owning a home in London a reality. We help the people who make our city tick stay in London.
If you think you meet the Pocket eligibility criteria, all you need to do is create a My Pocket account. Then, we’ll keep you updated on any Pocket homes you would be eligible for. Head to our gallery to watch the stories of city makers just like you who made homeownership in London a reality.