Communities Secretary, Sajid Javid, announced an expansion of
the government's affordable housing programme to meet the diverse
housing needs of the country.
Housing providers can now apply for a share of the fund, which
was allocated an additional £1.4 billion at the Autumn Statement to
deliver 40,000 new affordable housing starts across the
Alongside this extra funding, the government is expanding the
existing affordable homes programme to offer a wider range of ways
of helping people into home ownership and to provide support for
those that need affordable housing. This includes homes for Rent to
Buy which will be let with rents set at or below 80% of the local
market rent for a set time period, giving tenants the opportunity
to save for a deposit and then the option to buy their current
The government claims the expanded £7 billion programme will
deliver more than 200,000 homes.
The expanded Affordable Homes Programme will support the
- Shared Ownership homes, providing a route into home ownership
for those struggling with affordability
- Rent to Buy homes, helping first time buyers to save for a
deposit to buy their home while they rent at discounted rates
- more Affordable Rent homes, recognising that many of those who
rent in the private rental sector need support to be able to afford
Rent to Buy has been introduced and expanded as part of the
government's Affordable Homes Programme 2016 to 2021.
The Homes and Communities Agency (HCA) launched its prospectus for the Shared Ownership and
Affordable Housing Programme 2016 to 2021 in April 2016. Housing
providers who have been successfully allocated funding to the total
of £1.28 billion for affordable housing were announced on 5 January
207. The list includes a number of ARCH member councils including
City of Lincoln Council (£4.2m), Rotherham MBC (£6.8m) and Stoke
City Council (£7.2m) among others. See the full list.
Following the announcements made at Autumn Statement, the publication of a prospectus addendum will put
into effect the changes to how grant will be allocated going
forward. The addendum invites bids against the available
There is no set closing date for applications at this time and
the HCA will assess bids on an on-going basis in a process of
continuous market engagement (CME). The prospectus remains the key
document for the Shared Ownership and Affordable Housing Programme
2016 to 2021: its content stands unless explicitly amended.
Funding is allocated by the HCA outside London and the Greater
London Authority (GLA) in London.
Housing associations and local authorities will be able to bid
into the Programme for funding to build Shared Ownership, Rent to
Buy and affordable rented homes. The government is also encouraging
private providers to bid for Shared Ownership.