Last updated: 05/01/2021 11.25am
We need to do more work to establish the longer-term options for the estate, but at this stage we don’t know if we will be able to fully remediate the buildings. For that reason, we are offering to buy back your property. Your caseworker can discuss this with you in more detail so that we can make progress as quickly as possible to help give you certainty about your future.
In this section you will find information on:
> Valuations and buy-back offers
> Independent financial advice
> Service charges and shared ownership rent
> If you sub-let your flat
> Medium-term accommodation
> New home options
We have sent all homeowners a formal buy-back offer from us, which several of you have already accepted. Please talk to your caseworker with any specific queries about your offer.
If you would like to discuss the terms of your current mortgage, what other products might be available or how much you might be able to borrow for your onward purchase then we would suggest speaking with your current lender and/or an independent financial advisor.
You’re free to consult with whoever you choose but we do have an independent financial advisor lined up should you wish to speak with them. Mortgage Warehouse are an independent financial service and whole of market mortgage brokerage. They are independent of us but have worked with many of our leaseholders over the years to arrange mortgages for them or to help them to re-mortgage.
They will be able to give you free, independent advice on your current lender’s requirements, other mortgage products which may be suitable for you and your borrowing potential. They will be happy to help with any general enquiries you might have but in order to make your consultation more specific to you, it is helpful if you can gather some information before you speak with them:
- A copy of your current mortgage offer and confirmation of your mortgage balance. This will help them determine what your current mortgage obligations are.
- If you are interested in learning about further borrowing potential, then it is helpful to have your last three months’ payslips to hand as well as any information about ongoing financial commitments you may have (for example any personal loans or credit card repayments).
While all the advice outlined will be free to you, should you wish to use Mortgage Warehouse to make a formal mortgage application, this will incur an administration fee of around £300. Please be aware that while Mortgage Warehouse can assist in enquiries about your borrowing options, they aren’t a debt advisory service so if you need help with this you should contact Debt Free London, Step Change or your local Citizens Advice Bureau who will be able to give you more suitable advice.
If you would like to speak with Mortgage Warehouse, please contact Mark Perry at firstname.lastname@example.org or 03456 21 22 00. Please let him or his colleagues know you are an existing Paragon resident when you make contact.
You no longer need to pay service charges. If you are a shared owner, please continue to pay your rent along with any other costs associated with your Paragon flat except service charges.
We have stopped monthly service charges being added to your account from 1 November 2020. We are also applying a credit to your account to cover the period from 19 October 2020 when we asked you to leave until 31 October 2020.
If your most recent direct debit or standing order covered both rent and service charges, we will refund the service charge element if you have a credit on your account. Please speak to your caseworker or your property management officer Jackie Laker-Kimera about this. We will amend future direct debits, but you will need to make changes yourself if you pay by standing order.
To ensure no one is out of pocket, we are covering immediate accommodation costs and expenses.
If you decide to source your own medium-term accommodation, we will reimburse your monthly rent costs up to £1,250 for a one-bed property and £1,800 for a two-bed property for a period of up to six months or until your buy-back is complete, whichever is sooner. You will be responsible for all utility bills and other household bills like council tax.
If you choose to move into one of the flats we provide for the medium term, you will be responsible for your own household bills such as utility bills and council tax but we will cover the rent for up to six months or until completion of your buy back, whichever is sooner.
If you rent out your Paragon flat we will provide your tenant with alternative accommodation until completion of the buyback of your Paragon flat, provided they continue to pay their rent to you.
If your tenant wants to source their own alternative accommodation while continuing their agreement with you, we will reimburse their monthly rent costs up to £1,250 for a one-bed bed and £1,800 for a two-bed apartment until completion of your buyback, again provided they pay their rent.
We recommend that you consider your options to bring an end to your agreement with your tenant to enable the buyback process to complete. Please talk to your caseworker for more information about this process.
Situated in Greenford in the London Borough of Ealing, Greenford Quay is situated beside the Grand Union Canal and just 30 minutes by tube to central London. It’s a good medium-term option if you need more time to find longer-term accommodation at the end of your hotel stay. Have a look at the website to view its location on a map or our handout for some key journey times and routes from Paragon to Greenford Quay.
There will be no additional charges for this accommodation for up to six months or until completion of the buyback of your Paragon flat (whichever is sooner). We don’t anticipate the buyback process will take six months and this medium-term solution should mean that you don’t have to make longer-term plans or commitments for any period before the buyback process is concluded.
We will allow you to stay in this accommodation with no occupation charges for up to one month after completion of the buyback if the whole period does not exceed six months.
We have a mixture of furnished and unfurnished options available, so you can either leave your larger belongings at your Paragon flat until you find somewhere permanent to live or move them with you to Greenford Quay. Let your caseworker know your preference.
The Greenford Quay development allows pets. Please let your caseworker know if this applies to you so they can allocate you a pet licence.
If you choose to move into one of the flats we provide, you will be responsible for your own household bills such as utility bills and council tax.
Click the links below to see an example of a studio, one bed and two bed apartment at Greenford Quay.
View this video to get an idea of the building and its surroundings.
Grand PlazaGrand Plaza serviced apartments feature contemporary design throughout and are conveniently located in Bayswater, W2 4AD. We’ve secured a deal with them to offer studios or apartments for two people, or two bed apartments for four people at the rates below. You can book and pay with them directly and we will cover the cost. There is no minimum tenancy period so is a good medium-term option for when you leave your hotel accommodation. We’ll also pay the housekeeping charge as well as the rental cost. Contact Grand Plaza directly to make a reservation or book a viewing.
• Studio or apartment for two people – £1,200 per apartment per month
• Two-bedroom apartment for four people – £1,800 per apartment per month (limited units only)
Unfortunately, Grand Plaza doesn't allow pets.
Making your own arrangements
If you decide to source your own medium-term alternative accommodation, we will reimburse your monthly rent costs up £1250 for a one-bed and £1,800 for a two-bed apartment for up to six months. You will be responsible for all utility bills and other household bills like council tax.
We’ve appointed Restore Harrow Green to move your larger belongings to your new accommodation following your hotel stay. We’ll pay for the cost of your move - up to £750 for a studio or one bed and up to £1,000 for a two bed home.
Please contact Restore Harrow Green using the details below to arrange a suitable time for your move:
- Move manager Tina Thompson – email or call 020 7540 6572
- Jessica Boswell – email or call 020 7540 6514
If you’re moving into Greenford Quay, we will manage your move for you once your flat is ready. Your caseworker will discuss with you the delivery of your belongings.
We’ll pay the same amounts if you choose to use a different removal firm. In those circumstances, we’ll reimburse you as part of your overall buy-back package once the buy-back process is complete.
Notting Hill Genesis properties
Unfortunately, we have no properties in the immediate locality at present, but we’ve put together a list of our current shared ownership opportunities elsewhere in London for you to browse. You can also view the all the properties we currently have available for private sale or shared ownership on our website.
We've pulled together some available options from other housing associations and private sale opportunities below. This is by no means an exhaustive list but should give you an idea of what is presently available in London. If you are interested in any of these options, please contact the seller directly.
Catalyst Homes have availability locally on these developments:
Aspire at St Bernard’s Gate, Uxbridge Road, Hanwell UB1 3HW – market sale and shared ownership available
ARRO, Samara Drive, Off Beaconsfield Road, Southall, UB1 1BZ - shared ownership only
Metropolitan Thames Valley Housing (MTVH) have shared ownership availability in their development in West Ealing. Detailed information on the apartments available can be found in their plans brochure and information on costs is also available. If you want to see what other shared ownership opportunities MTVH has across London, have a look at their website - www.soresi.co.uk.
Peabody have a selection of one, two and three bedroom homes available for shared ownership in their Williamson Heights development in Wembley Park as well as one bedroom apartments in Colindale Gardens in Barnet.
Shepherds Bush Homes have availability in their development in Bowthorpe Court in Acton.
There are private sale opportunities available in the Apt Parkview development overlooking Gunnersbury Park, near Kew Bridge station. The building features a concierge, a gym, a cinema, a resident’s roof terrace, bike storage, parking and direct private park access.
Local estate agents
The following local estate agents are also available to help you: