Pricing You Back on the Property Ladder

As house prices in London rise, getting a
foot on the property ladder seems harder
than ever. This year has witnessed an
unprecedented growth in the interest in
housing and the issue of housing has
become a priority on the government's

NewBuild Homebuy is a government funded
scheme aimed at providing affordable homes
which enables buyers to get that first foot on the property ladder.

The scheme helps you to buy a home of your own through a part-buy, part-rent
system. You would get a mortgage for a share of the property and then pay a subsidised rent to the housing association on the remaining share.

Gallions Housing Association is a major provider of affordable homes in London and the South-East. The company has a number of exciting projects over the next twelve months providing affordable
new homes for low cost home ownership,
including a number of resale opportunities - these are part buy, part rent properties which the existing
shared owner now wishes to sell.


The College Quarter in SE18 is located in the vibrant and developing area of Woolwich.

This new build development is ideally situated for shopping and socialising opportunities. There are only a few apartments remaining, including apartments
adapted for wheelchair users.

For commuters, as well as those who enjoy the city lifestyle, The College Quarter benefits from both existing and planned transport services. Plans are underway for the arrival of the Dockland Light
railway to Woolwich Arsenal station in 2009.

College Quarter price example for a one
bedroom apartment;

Full market value - £185,000
25 per cent share - £74,000
Subsidised rent - £277.50 pcm
Service charges - £64.63 pcm


As house prices in London and the South East have risen steadily in the last few years, many workers that are vital to the functioning of our communities are unable to get that first foot onto the property ladder.

Key Workers on an annual salary of £20,000
could raise a mortgage of around £80,000 but with the Land registry reporting average house prices in London in June 2007 at £338,950 owning your own home seems a distant reality St Joseph's in SE2 is a key worker scheme.

This is a refurbished Edwardian building, carefully restored to maintain the external character, while each apartment has been designed with a contemporary style. Situated in beautiful grounds,
St Joseph's is ideally situated for shopping, entertainment and relaxation.

The development benefits from excellent transport links. Abbey Wood train station is 0.6 miles away and provides frequent train services to central London.

St Josephs price example for a one bedroom

Full market value - £157,000
25 per cent share - £78,500
Subsidised rent - £196.25 pcm
Service charges - £110.30 pcm

In addition to these popular schemes,
Gallions has a large variety of properties
for this year.


Marlin Court is an excellent opportunity to price you back onto the property ladder. This development consists of two and three bedroom luxury apartments.

The designer fitted kitchens all have
fridge/freezer, dishwasher and washing machine appliances.

Sidcup train station is 0.5 miles away and the City of London is approximately a 40 minute train journey away.

Marlin Court price example for a two bedroom apartment;

Full market value - £240,000
25 per cent share - £60,000
Subsidised rent - £412.50 pcm
Service charges - £90.00 pcm

Gallions has further developments at Charmine Wharf E14, Phoenix Court and Ringside Court SE28 and Little Ilford.

• For more details call Gallions Home Ownership Team on 0800 731 4587

or visit:

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