Armed officers were called to an address in Stow Crescent yesterday (October 10) at 10am.
The Metropolitan Police said family members called 999 reporting that a man was inside the property with a gun, “threatening to harm himself”.
Officers and trained negotiators were on scene for a number of hours and a cordon remained in place.
As the incident developed, the man threatened to “seriously harm anyone coming into the address and shoot himself”.
At around 2pm officers entered after hearing a bang from inside and weapons were discharged.
The circumstances of what happened prior to this and within the property will form part of the investigation.
The man was treated at the scene by police medics and the London Ambulance Service and then taken to hospital.
The man’s condition has now been assessed as non-life threatening, but life-changing and he remains in hospital.
The incident is also being referred to the Independent Office for Police Conduct (IOPC).
Assistant Commissioner Matt Twist said: “Our thoughts at this time are with the injured man and his family.
“I know this news will be concerning for the community in Walthamstow and the wider public in London.
“However, I want to reassure you, incidents where officers discharge their firearms are incredibly rare.
“It is right that there is a full investigation into the circumstances around this incident, and the Independent Office for Police Conduct is leading this.
“This process must take its course and while that is ongoing it would be inappropriate for us to comment further.
“Armed officers do a difficult job for London, they respond to 4,000 calls a year, placing themselves in danger to protect others.
“They make split-second decisions in incredibly difficult and challenging circumstances, and I am grateful to all of them for their professionalism and bravery.
“Our officers remain on scene and I would like to thank residents for their assistance and cooperation throughout the day.”
Cordons remain in place and we ask the public to stay away from the area.
The incident is contained and there is no wider threat to the public.

