Getting a permanent home in the borough could be getting a step closer for many people attending Islington's Affordable Home Ownership Show, 21 June 2008.<br><br>Islington Council and Homes for Islington (HFI) staff will be promoting a new affordable scheme called Social HomeBuy. The event at Arsenal's Emirates Stadium is expected to be a big draw for social housing tenants and others looking for information on buying a home in the borough. <br><br>Cllr Terry Stacy, Islington Council's Deputy Leader and Executive Member for Housing and Community Safety, said:<br><br>"Islington remains a hugely popular place to live because of its variety of housing, excellent facilities and unique character. But house price inflation has left many council tenants with no chance of buying a home in the borough where they live.<br><br>"If high property prices have kept home ownership beyond many people's grasp, Social HomeBuy now offers hope for many with an opportunity to buy an affordable share in their Council property. allong with a grant of up to £4,000 towards the costs of getting on the property ladder."<br><br>"Islington's Affordable Home Ownership Show is a chance to see what opportunities exist and speak to the council's housing experts to find out more about buying a home in Islington."<br><br>Social HomeBuy allows Council tenants to buy as little as 25 per cent of their homes on a part-rent, part-buy basis, with the option to increase this up to 100 per cent. A payment of up to £4,000 is available with this scheme, to help buyers cover the fees and costs of buying a home.<br><br>At Islington's Affordable Home Ownership Show, housing specialists, independent financial advisors, solicitors and others will be on hand to help those seeking to buy an affordable home in the borough. Exhibitors include Family Mosaic, Gateway Housing, Newlon Housing, Southern Housing and Dominion Housing. <br><br>Apart from Social HomeBuy, there will be information on other kinds of affordable HomeBuy (shared ownership) schemes, including new build and open market housing from housing associations.<br><br>Islington's Affordable Home Ownership Show, 21 June 2008<br>10.30am - 4pm, Legends Suite, Emirates Stadium<br>Islington<br>N5<br><br>No booking necessary.<br><br><br>Social HomeBuy is just one of a range of housing initiatives which is attracting national interest in Islington's innovative homes policy. This year the Borough starts building the first new council housing in Islington for a generation at Boleyn Road, N16, and at Armour Close, N7.<br><br>Islington Council aims to make sure everyone has somewhere to live despite huge pressure on housing in the borough. The council works in partnership with local housing associations to promote schemes that help residents find an affordable home. <br><br>The north London authority has also been given the title of Regional Homelessness Champions in recognition of its work in reducing the number of empty homes, deconverting flatted properties into family houses and reducing levels of underoccupancy via house swap schemes.<br><br><br>ENDS<br><br><br>Notes to Editors:<br><br>Social HomeBuy benefits both would-be purchasers and the council. It means tenants who might otherwise have overstretched themselves with a full Right to Buy purchase, can now buy just as much as they can afford, with far less risk of being repossessed. The council can also invest the receipt from these sales back into social housing in Islington.<br><br>With most of the Right to Buy properties now sold, Social HomeBuy offers residents another way to take a stake in their home. Council tenants can buy as little as 25 per cent of their homes on a part-rent, part-buy basis, with the option to increase this up to 100 per cent. <br><br>
Page Last Updated: 17 December 2009