Deputy Council Leader contradicts himself over Ferrier Estate
As many will know, the Ferrier Estate saga is still going on for the many residents there who do not wish to sell their homes for peanuts. At the last Council meeting, Tory councillor, Eileen Glover asked about the status of the tenants evictions. As we've mentioned before, the Council insists on saying that each homeowner is being offered "market value plus 10% home loss and disturbance allowance". This sounds like a very respectable amount until you discover that in many cases the so-called "market value" for a three bedroom flat is apparently only £65,000 or thereabouts.
Interestingly to us, in their most recent response they appear to contradict the “market value" claim within the same paragraph. Cllr Brooks say the Council has offered to those selling up for the supposed “market value plus 10%”, "access to shared ownership schemes in the borough" and also "reversion to council tenancy with no loss of compensation".
If they were offering market value why would people need shared ownership? Genuine market value would mean they could buy again at market prices. The fact they’re options do not allow for that shows there isn’t an ounce of honesty in the Council's claim. Still, we must acknowledge the Council's generosity in saying they wouldn't cut the derisory payment if residents chose to become council tenants again. Aren't they kind?
If any of our readership is involved in the Ferrier Residents' Action Group we'd love to hear from you. We imagine you have some tales to tell. Click here to email us.
posted by greenwich.watch at 1:35 pm
3 Comments:
I'm in the same boat elsewhere in the borough, the council have told us if we take shared ownership or revert to council tenancy we will receive market value less any discount we were given at the time of purchase. Using their mathematics some people will get less than they paid leaving a mortgage shortfall.
"Market Value" has to be an interesting concept, given that if people know that an area is going to be brought by the council and knocked down there will only be a very low price attached.
Would it not be fairer to give a "Compensation Value" which would really enable people to purchase a new home in the local area?
I couldn't agree more John.
For us like many ex-council tenants right to buy was the only way to get a foot on the property ladder in the area we grew up in and wish to continue to live. The compensation package should reflect that and be more realistic in the hopes of buying a similar property in the area. After all, this situation is being forced on us and we have very little grounds to object. The council is having to pull our estate down because it cannot afford to bring property up to scratch in accordance with central government policy, this is because of years of neglect by successive councils. They stand to make a fortune since most of the new housing will be private ownership so its time to cut the cake more fairly.
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