London Wide Initiative
The London-Wide Initiative (LWI) is a low cost home ownership scheme for key workers living and working in the capital.
The LWI is creating 5,000 homes, of which around 1,500 are designated for key workers. The programme is run by the HCA in collaboration with the Greater London Assembly and Communities and Local Government.
How the scheme works
The LWI is a shared equity scheme rather than a shared ownership scheme, which means that the cost of the property is split between the government and the homeowner. In a shared ownership scheme, the purchaser pays a mortgage on their share of the property and rent on the rest, but in the LWI shared equity scheme the purchaser does not pay anything towards the government’s stake. Shared equity reduces home ownership costs as a percentage of monthly outgoings, making homes more affordable for key workers.
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A Buyer’s Guide to the London-Wide Initiative |
LWI sites
There are 16 LWI sites across London, with each site managed by one of the programme’s three development partners:
- First Base
- Key London Alliance – comprising Barratt, Inspace Homes, Circle Anglia and Notting Hill Housing Group)
- Countryside Properties plc – working with Hyde, Metropolitan and Presentation housing associations.
The table below shows the current status of each LWI site.
| LWI site | Development partner | Status |
|---|---|---|
| Bloomsbury Terrace, 1-9 Huntley Street, Camden | Barratt | Units all sold subject to contract |
| Adelaide Wharf, Hackney | First Base | All units sold |
| Printworks, Amelia St, Southwark | First Base | Scheme under development |
| Blackhorse Road, Waltham Forest | Key London Alliance | Scheme in planning stage |
| Brenley Park, Merton | Key London Alliance | Scheme in planning stage |
| Former Catford greyhound stadium and rail site, Lewisham | Countryside Properties | Scheme in planning stage |
| Heart of East Greenwich (former district hospital) | First Base | Scheme in planning stage |
| East India Dock Road, Tower Hamlets | Key London Alliance | Scheme in planning stage |
| Gallions Reach, Newham | Key London Alliance | Scheme in planning stage |
| Holloway Road, Islington | First Base | Scheme under development |
| 360°, Newington Butts, Southwark | First Base | Scheme in planning stage |
| London Road, Croydon
| Countryside Properties | Scheme under development |
| Lymington Fields, Barking & Dagenham | Countryside Properties | Scheme in planning stage |
| Wandsworth Parkside | Key London Alliance | Units currently on sale |
| Harmony, Twickenham Road (former West Middlesex Hospital), Hounslow | Key London Alliance | Scheme under construction |
| Trenchard House, Soho, Westminster | First Base | Scheme in planning stage |
How to apply for an LWI home
Units are sold by the development partner responsible for the site, on behalf of the HCA. To find out more about opportunities for LWI home ownership and to register your interest in a scheme, please contact your local HomeBuy agent.
Contact Details
Jeremy Stibbe LWI Programme Coordinator
Jeremy.Stibbe@hca.gsx.gov.uk
Last updated: 3 June 2009