Few of the 50,000 Ealing Council claim now have legal status will buy any of the properties covered in the article. On the other hand shared ownership is something the Labour Party is very keen on having arranged loans for local landlords like Catalyst Housing Group with the £70 million alowing them to buy the 132 properties in South Acton from which they make huge profits from without a penny coming back to Council Taxpayers.
The 990 flats that Catalyst have permission to build on the Friary Park Estate following the rigged 20th November planning meeting will be marketed as share ownership through Catalyst's unique Equity Loans. It is unique because Catalyst's promises borrowers that should they have to claim Housing Benefit they will receive the maximum amount because of their partnership with Ealing Council. Borrowers will pay a minimum of £345 per week for a 25% equity in flats that will be little more than dog boxes designed by Anne Markey of Phelan Architects and a member of Catalyst board. Their real problems will come when they try to claim Housing Benefit because any payments they get will fall far short of their loan commitments. As in the 40 other local authorities in which Catalyst operates they will seek possession when the borrowers fall 1 month behind, have the borrowers evicted and move in new tenants. Catalyst Housing Group have aways made it clear they intended to keep possession of all their new builds and this is how they do it.
Estate agents and District Courts have long been aware of the huge turnover in Catalyst's share ownership tenants but those covering Acton's property market fail to discuss this or how much Catalyst and local politicians like Labour councillor Dan Crawford are making. Crawford, who runs the Locata social housing allocation system that has seen his friends like Cecilia Aridegbe moved into new central Ealing upmarket development Dicken's Yard and only pay the social rent of £124 per week, will not be supportive of share ownership tenants as Councllor Yvonne Johnson demonstarted with those living in Catalyst's rat infested South Acton properties.
|