Thursday, 28 August 2008

Affordable housing scam in EASEL

Hands Off Our Homes has discovered that the cheapest house available in the first phase of the EASEL Regeneration Scheme is a 2-bed mid-terrace Townhouse in Seacroft going for a whopping £117,950!!!

Yes, that's right, the so-called 'affordable housing' that EASEL promises is nearly £120k. How many people in East Leeds are going to be able to afford that?

So, if you can get a 80% mortgage (assuming you have a clear credit rating, which is unlikely if you have been a council tenant), you will need to have £23,600 deposit plus a mortgage arrangement fee (£1000), plus solicitors fees and other costs to buy this home, and you'll then have to find £600-odd a month to pay your mortgage. And you really don't want to miss those payments at the moment given the huge rise in repossessions.

We think this is a shocking betrayal of what the Council promised for the people of East Leeds.