Leaseholder FAQs

Leaseholder FAQs
What is Newlon’s offer to leaseholders?

Resident leaseholders in New Barnsbury

  • Resident leaseholders will be guaranteed the right to stay on the estate.
  • If the redevelopment option went ahead after a ballot and, as a resident leaseholder, you want to remain on the estate in a new property, then you will be offered a shared equity deal. This new equity would be based on the agreed market rate value of your existing property. You will also receive a statutory payment of an additional 10% of the value of your existing property (you are entitled to this under the Land Compensation Act, 1973). This is known as a Home Loss Payment.
  • To claim the home loss payment, you will need to provide sufficient proof that you have lived in the property for the last 12 months (except in exceptional circumstances) and you will need to be registered as the Council Tax payer and be able to show you receive the bill at your address. You must also be able to provide a further two pieces of evidence to confirm your residency for this period. One of these must be a utility bill (i.e. Gas or Electricity), the other could be a bank statement, telephone bill, driving licence or letter from the NHS.
  • Newlon’s offer to current leaseholders on New Barnsbury is that they can reinvest the equity that they receive from their home as well as the home loss payment in a new property in the transformed estate under a shared equity agreement. If this did not cover the whole value of a new property Newlon would own the remaining share of the new property. Newlon would be a ‘silent partner’ in this arrangement, no rent would be charged on their portion and its value would only be realised when the property is sold.
  • By way of example, if a leaseholder’s existing home on New Barnsbury was valued at £500,000 and their new, redeveloped home was worth £600,000. Their equity in the property would be based on £550,000 (i.e. the value plus 10%). Newlon would own the remaining percentage share of equity (i.e. £50,000). The leaseholder would not be required to pay for Newlon’s share and the equity would only be realised when the leaseholder sold the property.
  • Your property will be valued by a surveyor using the RICS Red Book to ensure you receive the market value for the property. Newlon will pay for you to have an independent survey as well as carrying out their own survey.

Non-resident leaseholders in New Barnsbury

  • Unfortunately, we are unable to guarantee an offer to non-resident leaseholders of a shared equity home or private home within the redeveloped New Barnsbury.
  • However, we can confirm that non-resident leaseholders will be offered the market value of their property plus 7.5%. Your property will be valued by a surveyor using the RICS Red Book to ensure you receive the market price for the property.
  • As current rules apply, if non-resident leaseholders reinvested the capital sum received into an alternative property, then no Capital Gains Tax would apply. Please note, however, that there are time limits within which the reinvestment needs to occur for this provision to be applied.

Resident and non-resident leaseholders in Old Barnsbury

  • A full refurbishment of Old Barnsbury would, if approved in a ballot of residents, bring improvements to the buildings and communal areas in Old Barnsbury. These are listed below.
    • Communal areas: New, useable landscaped areas
    • New windows for all homes
    • New front doors for all homes
    • New floor coverings for communal areas
    • Improved cycle and bin storage
    • Improved play areas
    • Better lighting
    • Improved security
    • Improved entrances and communal spaces (including door entry systems)
  • Buildings:
    • Roof Repairs
    • Extensive, wholesale repairs to the external brickwork for the entire building
  • Under our proposals, these improvement works would be primarily funded through the creation of new homes for sale on New Barnsbury.
  • Internal improvements to Old Barnsbury Homes: Newlon will also be undertaking internal improvements to tenants’ flats on Old Barnsbury. We are also happy to consider the possibility of resident leaseholders buying into these improvement works while these are being undertaken to tenants’ flats. We believe that we can offer Old Barnsbury resident leaseholders’ benefits from economies of scale and will explore this option further if there is sufficient interest. For reference the proposed improvements are as follows:
    • New bathrooms
    • New kitchens
    • New heating
    • Rewiring
    • Ventilation system upgrades
    • New flooring finishes to kitchens and bathrooms
    • Redecoration of walls within a room substantially refurbished
    • Smoke and fire detection improvements
Newlon’s offer
Could we take the additional 10% home loss payment as a cash lump sum?
  • Newlon’s offer to New Barnsbury tenants who wish to remain living on the estate would generally expect, subject to individual circumstances, that the investment of the home loss payment is made in a new home in the redeveloped New Barnsbury.

Will leaseholders pay for refurbishment or redevelopment works on the Barnsbury Estate?
  • Resident leaseholders would pay nothing towards any refurbishment or redevelopment works as part of the proposals to transform the Barnsbury Estate.
  • However, non-resident leaseholders in Old Barnsbury properties will be required to contribute to the costs of block and estate refurbishment in Old Barnsbury, but not to homes.
Why have you put an eligibility criteria to receive the 10% extra value on leaseholder properties?
The 10% payment is a statutory payment of the value of your existing property (you are entitled to this under the Land Compensation Act, 1973), known as a Home loss payment. This applies to resident leaseholders on the New Barnsbury.

Non-resident leaseholders on the New Barnsbury will be entitled to 7.5% statutory payment. The rules on these payments are set by Government guidance.

Will we be entitled to any compensation from having to move while works take place?
  • Resident leaseholders in New Barnsbury will be entitled to a level of disturbance compensation because of the need for you to sell your current property and acquire a replacement property should works be agreed on for the Barnsbury Estate. Disturbance compensation can include reimbursement of costs for:

    • Obtaining a second independent valuation of your property (anticipated to be less than £500).
    • Solicitor’s fees, for both the sale of the existing property and purchase of a replacement.
    • Survey fees arising from the acquisition of a replacement property.
    • Survey fees and costs in connection with the transfer of an existing mortgage or raising a new one. This includes early redemption and mortgage arrangement fees.
    • Removal Costs (anticipated to be less than £1000).
    • Forwarding of post (for up to 6 months).
    • Disconnection and reconnection of services (e.g. telephone, satellite).
    • Disconnection and reconnection of appliances (e.g. cooker, washing machine).
    • Stamp Duty Land Tax on the purchase of a new home.
  • You must be able to provide invoices and other receipts as proof of any outgoings. These should be submitted to your solicitor so that they can be paid on completion of your sale.
  • If you are not purchasing a replacement property straight away, you have one year from the completion of the sale of your current property to make a claim for some disturbance compensation.
It was said that leaseholders will get like-for-like, is this still the case? I have a four-bed property so will I get a four-bed property?
Resident leaseholders on the New Barnsbury will be offered a new property on the new build estate of equivalent number of bedrooms as their current property is formally registered as containing.
New Barnsbury and Old Barnsbury
Why don’t you just refurbish the whole estate rather than only refurbish half of the estate and redevelop the other?

The New Barnsbury area of the Estate dates back to the 1950s and the buildings themselves are in a poor physical state due to age, and the fact they were originally built using poor construction methods and materials.

Refurbishing New Barnsbury would not improve residents’ homes to a high standard and for the long term. More significant refurbishment, for example work to fix roofs, would mean current residents would likely need to move out to temporary accommodation whilst the works were completed.

Building new homes by ‘infilling’ or adding floors to existing blocks on New Barnsbury would not solve the overcrowding problem that has been highlighted to us or generate the funds necessary to make the improvements that are required for Old Barnsbury.

This method would also have a negative impact on outdoor space, privacy, light and overlooking for existing residents and not create any new homes for social rent.

Valuations
How do I know whether my property is in Old or New Barnsbury?
  • Old Barnsbury: This is defined as the 1930s brick buildings situated between Barnsbury Road and Charlotte Terrace.
  • New Barnsbury: This is defined as the more modern buildings built after the war, that are between Charlotte Terrace and Caledonian Road, including the two blocks next to the canal on Carnegie Street.
  • Please see below for a full list of blocks on the Barnsbury Estate:

What happens if I am unhappy with the valuation of my property?
  • Newlon will obtain a Royal Institution of Chartered Surveyors (RICS) Red Book valuation for the property. The RICS is the world’s leading professional body for qualifications and standards in land and property – a Red Book valuation would meet RICS professional standards.

  • Newlon will then pay for all leaseholders on the estate (both resident and non-resident) to appoint their own surveyor to obtain their own independent RICS Red Book valuation and to negotiate with Newlon’s surveyor. This will be based upon the market value of sold properties on the Barnsbury Estate.

If my home is redeveloped can you guarantee that my new home will be of the same size?
  • Resident leaseholders in New Barnsbury will be offered a new home with the same number of bedrooms as their existing property.
  • If any redevelopment went ahead the new homes built would comply fully with the Mayor of London’s guidelines for design and quality of homes – including space standards.
At what point will values be agreed?
  • The redevelopment of estates is organised on a phased basis. This means that buildings are assessed and cleared in accordance with a programme, which is agreed (wherever possible) at the beginning of the scheme. We will continue to liaise with you so there is plenty of time to agree the values of your property. If for any reason there is a significant delay between valuation and purchase it will be possible to request a review of the valuation.

If I have renovated my property will this be taken into consideration of the price Newlon will offer me?
  • Any internal improvements to a property would be taken into account when determining the market value of the property. The market value of the property will help to inform the financial offer made from Newlon to you.

What will happen if the property market falls significantly after values are agreed for buy-backs and how are these values assessed?
  • The offer of your property will be made at open market value, which is what Newlon’s surveyors will perceive to be the true market value of your home. This will be based on the fundamental principle of equivalence, which means that you will not be better or worse off than before the regeneration takes place.
  • The valuation of your property will be carried out by a qualified valuer or a chartered surveyor. The valuer considers the following matters in assessing the market price of the property:
    • The internal condition.
    • Any internal improvements to the property such as new bathrooms and kitchens.
    • The location of the property and amenities within the area such as transport links, shops, and services.
    • The housing market in the immediate area, including recent sale prices.
How does the buy-back process work for leaseholders?
  • Newlon will obtain a Royal Institution of Chartered Surveyors (RICS) Red Book valuation for the property. The RICS is the world’s leading professional body for qualifications and standards in land and property – a Red Book valuation would meet RICS professional standards.
  • Newlon will then pay for all leaseholders on the estate (both resident and non-resident) to appoint their own surveyor to obtain their own independent RICS Red Book valuation and to negotiate with Newlon’s surveyor. The valuation will be based upon comparable sales values locally as well as wider valuation factors as published and verified by the RICS.
  • Resident leaseholders on New Barnsbury will also receive a statutory payment of an additional 10% of the value of your existing property as a Home Loss payment.
  • Meanwhile, non-resident leaseholders on New Barnsbury will be offered the market value of their property plus 7.5%.
  • The redevelopment of estates is organised on a phased basis. This means that buildings are assessed and cleared in accordance with a programme, which is agreed (wherever possible) at the beginning of the scheme. We will continue to liaise with you so there is plenty of time to agree the values of your property. If for any reason there is a significant delay between valuation and purchase it will be possible to request a review of the valuation.
Do resident leaseholders have to purchase the extra value of their home from Newlon?
  • Newlon’s offer to current resident leaseholders on New Barnsbury is that they can reinvest the equity that they receive from their home as well as the home loss payment in a new property in the transformed estate under a shared equity agreement.
  • The full value of your existing property equity (after any charges on your existing property are paid) will be required to be transferred into the equity of your new property if you wish take Newlon up on this offer. There is no obligation to take Newlon up on the offer.
  • If this did not cover the whole value of a new property Newlon would own the remaining share of the new property. Newlon would be a ‘silent partner’ in this arrangement, no rent would be charged on their portion and its value would only be realised when the property is sold. 
  • If resident leaseholders want to buy the equity share not covered by the value of their existing home, this is possible. This could be through either raising a mortgage for this amount or using savings. The value of this share will be relevant to the percentage of the property market value at the time the extra share is purchased.
Your property in New Barnsbury
What happens if the property value changes during the construction of the property?

The offer of your property will be made at open market value, which is what Newlon’s surveyors will perceive to be the true market value of your home. This will be done through a RICS surveyor who will conduct a ‘red book’ valuation to arrive at the market value, and will be based on the fundamental principle of equivalence, which means that you will not be better or worse off than before the regeneration takes place.

The valuation of your property will be carried out by a qualified valuer or a chartered RICS Valuation surveyor. If the value of the new property changes value during construction then we will look to revalue the new property again and reassess.

If my home is redeveloped can I buy more equity in it?
  • If you are currently a leaseholder in New Barnsbury, you will have the option of providing additional funds to increase the equity you hold in your new property. This can be in addition to the 10% of the existing value of your property that Newlon will provide to you as required by the Land Compensation Act of 1973. This would apply to a home with the same number of bedrooms as your current property.

  • If you are looking to secure a larger home this can be done on a shared ownership basis, and you would be able to staircase up to own more equity in this home as well. We can discuss this option further with you as required.

Offer to resident leaseholders in New Barnsbury
  • Resident leaseholders will be guaranteed the right to stay on the estate.
  • If the redevelopment option is agreed and you want to remain on the estate in a new property, then you will be offered a shared equity deal which would be based on the agreed market rate value of your existing property (see above for a definition of Shared Equity).
  • You will also receive a statutory payment of an additional 10% of the value of your existing property (which you are entitled to under the Land Compensation Act, 1973).
  • Your property will be valued by a surveyor using the RICS Red Book to ensure you receive the market value for the property.
  • More information on these offers can be found above.
What if I want to move off the estate?
  • If you were to move as a result of redevelopment, the value you extract from your home on the estate would reflect the value, at the point of sale, of the home you originally bought plus 10%. Your property will be valued by a surveyor using the RICS Red Book to ensure you receive the market price for the property.

I have finished paying off my mortgage and cannot afford to take on another. What do I do?
  • You should not be required to take on another mortgage as a consequence of the redevelopment of the estate and moving into a new home. The equity value of your present home will be put towards the new home and any increased equity you do not acquire will be held until you decide to sell – at which point Newlon would redeem its portion.

  • As referenced above, you will not be required to make any additional payments for the proposed redevelopment or refurbishment works.

I currently own a 2-bed property. What if I want to buy a 3-bed property (or higher) once the new homes are ready?
  • If you want to buy a property with more bedrooms than are currently in the property you own, it will be on a shared ownership basis, rather on shared equity. Therefore, you would pay rent on the remainder of the equity of that property. Newlon would own the remaining equity, and we would not charge you for the equity that you own. We have provided below definitions of Shared Equity and Shared Ownership above.

What is the difference between shared equity and shared ownership - can you clarify what this means?
  • Shared Equity means that resident leaseholders can purchase a share of a new build property on Barnsbury Estate. The share that the leaseholder does not own would be held by Newlon and recorded as a percentage of the equity. Newlon would claim this portion of the property on the sale of the lease. This means that no additional rent is paid for the share of the property that Newlon owns while the leaseholder is living there.

  • Shared Ownership means that you buy a share in the new home (starting at 25% of the full market value of the home). The difference by comparison with shared equity is that you would pay rent to the freeholder (in this case, Newlon) for the remaining portion of the property that you do not own.

What is the eligibility criteria for Shared Equity?
  • To be eligible for Shared Equity you must be able to purchase a minimum percent of the value of the new property. This minimum value will be confirmed in advance of the ballot and will be worked out on a case by case basis. We will confirm any further updates as we near the ballot.

  • You also cannot own any other property in the UK and the property you buy must be your only residence and cannot be sub-let.

Could you clarify how equity percentages will be agreed, e.g. how equity is split on sale / death?
  • This would be based on the proportion of the equity that you own in the property. If a shared equity home, valued at £500,000 were sold where the occupier owns 80% of the equity and Newlon owns 20% the value realised by each party from the sale would be:

    • Occupier: £400,000 (80% of the total)
    • Newlon: £100,000 (20% of the total)
Will my children be able to ‘inherit’ my equity deal?
  • Unfortunately, children will not be able to inherit the equity deal on your property; however, we will continue to work with you and your family throughout the process to make sure you have the support you need.

Can I increase my share in the property in the future?
  • If you wish and can afford to do so, you can buy further shares until you own the property outright. Your leasehold agreement will detail how and when you will be able to purchase an additional share of your property.

  • If you have a Shared Ownership property and you increase the proportion of the property you own, the amount of rent you pay to the freeholder decreases.

Will leaseholders get a new lease when they move into a new property on New Barnsbury?
  • New Barnsbury resident leaseholders will be guaranteed the right to stay on the estate if they wish to stay.
  • The precise offer to resident leaseholders will be set out before the ballot – but as this is a new home it is standard practice to give leaseholders a new, 125 year lease.
Equity in a New Barnsbury Home
I am a leaseholder on New Barnsbury. How do I know that redevelopment will increase the value of my home?
  • Newlon’s ambition is to transform homes and open spaces on the estate to offer a better living environment. This would have a direct, and positive, effect on the value of homes on the estate.

My grown-up children are living with me in my leasehold flat in New Barnsbury. What will happen to them?
  • Under Newlon’s proposals you would be offered a new home on the redeveloped estate with the same number of bedrooms as your current property.

I do not live on the estate but rely on the income of tenants who are renting my leasehold flat in New Barnsbury from me. How will I replace this income?
  • Unfortunately, we are unable to guarantee an offer to non-resident leaseholders of a shared equity home or private home within the redeveloped New Barnsbury.

  • However, we can confirm that non-resident leaseholders will be offered the market value of their property plus 7.5%. Your property will be valued by a surveyor using the RICS Red Book to ensure you receive the market value for the property. It will be necessary for you to consider how best to reinvest the equity value of your property to maintain an income source.

Can leaseholders transfer equity to their new property?

Yes, if the redevelopment option is agreed and you are a resident leaseholder on New Barnsbury, and if you want to remain on the estate in a new property you will be offered a shared equity deal which would be based on the agreed market rate value of your existing property.

If you are a non-resident leaseholder on New Barnsbury the direct equity transfer will not be available, though you will be welcome to purchase a new private dwelling on the estate through the standard private sale procedure that will be made clear once the first sales launch has been made.

Your property in Old Barnsbury
Offer to resident and non-resident leaseholders in Old Barnsbury
  • A full refurbishment of Old Barnsbury would, if the ballot is successful, deliver a number of benefits, which would be primarily funded through the creation of new homes for sale on New Barnsbury. Tenants would have input and choice with options on paint colour, fixtures and fittings and will be completed to the highest quality of finish and design.

  • Resident leaseholders would not need to contribute towards the refurbishment of the Old Barnsbury homes; however, non-resident leaseholders will be required to contribute to block and estate refurbishment, but not to homes. We will be in contact with them in the near future to discuss this further.
  • Internal improvements to Old Barnsbury Homes: Newlon will also be undertaking internal improvements to tenants’ flats on Old Barnsbury. We are also happy to consider the possibility of resident leaseholders buying into these improvement works while these are being undertaken to tenants’ flats. We believe that we can offer Old Barnsbury resident leaseholders’ benefits from economies of scale and will explore this option further if there is sufficient interest. For reference the proposed improvements are as follows:
    • New bathrooms
    • New kitchens
    • New heating
    • Rewiring
    • Ventilation system upgrades
    • New flooring finishes to kitchens and bathrooms
    • Redecoration of walls within a room substantially refurbished
    • Smoke and fire detection improvements
I am a leaseholder on Old Barnsbury. How do I know that refurbishment will increase the value of my home?
  • We are in the process of obtaining RICS Red Book valuation estimates of the dwellings should the proposed works take place.

  • Whilst it is difficult at this stage to quantify the monetary value brought to your home, the building will receive a wholescale refurbishment to the communal areas. As a leaseholder your home will receive new windows and new front entrance doors as Newlon believes that these items should be defined as the communal area.

  • Resident Leaseholders of Old Barnsbury dwellings will not be required to contribute to any of the costs of these works.

I am a leaseholder in Old Barnsbury. While I benefit from improvements to communal areas, interior improvements to flats in Old Barnsbury only apply to tenants. Can I buy into these works to improve the interior of my leasehold flat?
  • Yes. Newlon is happy to consider the possibility of resident leaseholders buying into internal improvement works while these are being undertaken to tenants’ flats. We believe that we can offer Old Barnsbury resident leaseholders cost saving benefits from economies of scale and will explore this option further if there is sufficient interest.

I do not live on the estate but rely on the income of tenants who are renting my leasehold flat in Old Barnsbury from me. How do I know that their lives will not be disrupted and threaten this important stream of income for me?
  • The buildings in Old Barnsbury require significant refurbishment to deal with some long-term problems – in particular, poor drainage, damp, condensation, and mould. In order to tackle these issues Newlon will need to undertake extensive works, which will ensure that your property can provide a high-quality living environment for your tenants in the long term.

  • It is highly unlikely that any tenant of non-resident leaseholders would be required to move due to any refurbishment works in Old Barnsbury. We will look to avoid any temporary decants; however, if the works to be undertaken are of such a level as to be disruptive to residents we would, in discussion with residents, work up a plan to minimise the impact on the people living there and which will enable your tenants to continue living their lives with minimal disruption.

Your tenants
What should I do about my tenants?
  • Your tenants will remain your legal responsibility, and as such you will be required to inform them of any changes that may affect them as works are decided/take place. If the Estate transformation proposals are approved in a ballot and then by the Council’s planning committee Newlon will create a detailed works timetable that will provide you and your tenants with certainty about the works timescales.

Service charges and the sinking fund
Will service charges increase?
  • It cannot be stated with absolute certainty that there will be no increase in service charges, in the future. However, Newlon is determined that the redeveloped and refurbished homes will tackle the estate buildings’ long-term problems (which currently adds pressure on service charge costs) and require less maintenance than at present. Newlon is also determined that new and refurbished buildings on the estate will be more energy-efficient, which will minimise fuel bills.

What is happening with the sinking fund that we have been paying into, will this be used to fund the new development?
  • The sinking fund will roll over to the redeveloped scheme.
Financial difficulties
My personal situation means that I do not want to continue leasing my property. Will I be able to return to living in my property as a tenant?
  • Unfortunately, we cannot guarantee that you will get a socially rented property with Newlon. If you wish to explore changing your status from leaseholder to tenant we would be happy to discuss your circumstances with you and explore the best options for you and other ways in which we might be able to help.

What if I have negative equity or cannot reinvest the full equity in my property?
  • We understand that some leaseholders may have financial difficulties and may need additional support on a case-by-case basis. To qualify for this, we will undertake a verification process and will need to ask for information that will help us to confirm your income and expenditure. We will then discuss a tailored support system that meets your needs and ensures you have a home that suits your needs.

Other
Will I be reimbursed for my stamp duty land tax, either on the new-build or elsewhere?
  • You will receive reimbursement for the Stamp Duty Land Tax on your new property as part of your entitlement to Home Loss Payment. In order to receive this, you must be able to provide invoices and other receipts as proof of any outgoings which should be submitted to your solicitor so that they can be paid on completion of your sale.

  • The amount of stamp duty paid by Newlon will not exceed the cost of stamp duty on your existing property (to the agreed value of your repurchased property), at the rate at time of purchase.

Will there be any restrictions on subletting or taking in lodgers when the new builds are complete?
  • Subletting of your property will not be allowed as we want to encourage resident leaseholders to stay within the Barnsbury Estate and become part of the community.

I want to sell my home ASAP and move away. When can I sell it to Newlon?
  • Buybacks from leaseholders will be done in a phased manner prior to that block being demolished.
  • However, we recognise some resident leaseholders may benefit from an early buyback, such as for family reasons or to be nearer to places of employment in a new area. Newlon would seek to discuss this individually in order to assist residents as far as possible. 
  • If you would like to set up a meeting to discuss your circumstances in further detail, let us know and we will set up these meetings over the coming weeks.
  • It is important to note, however, that Newlon will not buy back any homes prior to the estate ballot and obviously the ballot would need to be in favour of moving ahead with the Masterplan.
Can leaseholders have a separate meeting?
  • Yes. We know that many leaseholders have questions specific to their personal and financial circumstances which we believe will benefit from individual meetings with project team members.
  • If leaseholders would like a separate meeting, let us know and we will set up these meetings over the coming weeks.
What happens in the event of death for leaseholders – can their property be passed over to their next of kins?
Unfortunately, children will not be able to inherit the equity deal on your property; however, we will continue to work with you and your family throughout the process to make sure you have the support you need.
Will the leaseholders have a new lease and how will this impact extension requests?
Yes, leaseholders will have a new lease that will start on the purchase of the new property. The duration of the lease is at Newlon’s discretion. The length of the new lease will be clarified prior to the ballot.
My main family home is not in the Barnsbury Estate but my family lives there – do I count as a resident leaseholder?

No – as your main residency is located off the Barnsbury Estate, you are considered a non-resident leaseholder. Similarly, if you own the leasehold to a property on the Barnsbury Estate that your family lives in (but it is not your main residency), then you are also considered a non-resident leaseholder.

What happens if it takes too long and you have moved out or swapped homes with someone part way through this process?
If you have moved out of your home or swapped homes with someone part way through the process, this is a personal choice. Only resident leaseholders will be offered a new home on the estate, so if you move off the estate you will not be offered a new home.
Will the new apartments have central heating?

Yes, the refurbished and redeveloped properties will have central heating. It is a fundamental requirement to ensure the homes will be energy efficient.

How many of the proposed newly built homes will be sold off to those not from the area?

Approximately three quarters of the homes that will be provided on the New Barnsbury will be affordable housing. These will be a mixture of existing residents being rehomed and new local tenants to be provided a home. The remaining homes will be sold as private sale to ensure that all build and development costs are covered to deliver all new homes across New Barnsbury.