HCA reveals affordable housing funding framework

March 1, 2011
The Homes and Communities Agency (HCA) has published a framework document setting out details of affordable housing provision from 2011–2015, and inviting providers to put forward proposals to secure funding.<br> <br> The £4.5 billion programme aims to provide 150,000 new homes in the period, and of this £2.3 billion is already allocated with £0.4 billion ring-fenced for schemes unrelated to new build. That leaves £1.8 billion available for a new Affordable Rent product - the principal element of new supply in which providers can charge up to 80% of market rent on properties. The programme will also include Affordable Home Ownership products. <br> <br> HCA ceo Pat Ritchie said: “This new approach gives increased flexibilities for local authorities and providers to plan ahead and deliver much needed affordable homes.” HBF’s planning director Andrew Whitaker said that the framework would reignite the debate on tenure as a planning issue, with individual units having the potential to change tenure throughout their life.<br> <br> “The framework will also bring into sharp focus the tension between local authorities’ emphasis on social rented homes versus a wider range of tenures and products that meet wider requirements,” he said. <br> <br>

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