More mortgages may be sought in London after an affordable housing scheme was unveiled.
A four-year agreement has been reached between the Homes and Communities Agency (HCA) and Sanctuary Group that will see 467 properties constructed in the capital.
Overall, there will be £105 million invested in the project and it forms part of a wider investment strategy by the HCA that will see 3,600 dwellings built in the next four years.
Because the pricing structures have been set up to encourage people onto the property ladder, attaining a mortgage may become a more reasonable expectation for many.
Jackie Jacob, HCA director for London, remarked: “This agreement is one of many that will see thousands of new homes delivered in London and have a positive impact on availability and choice.”
Across the London Borough, some 21,000 houses will be delivered thanks to investment from the HCA – which has a capital investment budget of nearly £7 billion.
All of the projects that are being funded are part of the Affordable Homes Programme.