Published: 27 July, 2012
• I HAVE to wonder what world the development director of One Housing Group is living in if he really believes that a flat in his Clerkenwell development priced at £695,000 is affordable and allowing first time buyers to access the market (Help for first-time buyers, July 20).
As for the assertion that they are providing homes “across the spectrum” while at the same time making it very clear there aren’t any council properties in the development, this is just laughable.
The property may be being sold on a shared-ownership basis, but this is very far from the same as being affordable.
The buyer will still have the debt from the part they have bought, as well as charges on the part they haven’t.
A very high salary will be needed to service these charges, never mind starting to purchase the part of the flat they don’t own.
You can see how this could easily become a millstone.
It is time for some honesty from the Mayor, the council and developers.
What are your definitions of affordable?
We are being persuaded about the merits of many developments across the borough on the basis of them providing “affordable housing”, but this case suggests that this is nothing more than a con, designed to allow developers to continue to profit from our borough’s housing shortage, while many people live in unacceptable conditions and severe overcrowding.
This is a scandal.
Islington Green Party