Long-standing tenants of Butterfields estate have received notices of eviction after the charity that provided them with their homes sold them to a property development company.
The Glasspool Charity Trust in Walthamstow has sold 63 of its properties to a company called Butterfield E17 Ltd, which was established in April 2015.
According to the Guardian newspaper, the eviction of residents is set to continue as Butterfield E17 stand to gain a substantial profit.
The houses are reported to have been listed by local estate agents as “worthy buy-to-let investments”..
Glasspool trustees issued a statement on the charity’s website. It said they had “no power to prevent a new owner from reviewing their position with the existing tenancies”, although they were “assured that [the tenants] would be protected within the law”.
Labour MP for Walthamstow Stella Creasy has said that housing is one of the biggest issues facing residents.
The resident-led Walthamstow Housing Campaign is fighting back against the increase of house prices, rent and property shortages.
Creasy is urging residents to take action by voting in the campaign’s Walthamstow Housing Awards, which take place on 20 February.
Voting ends at noon on Friday 19 February.