We spent a large amount of time pursuing glebe land for affordable housing using cross subsidy on exception sites. I had mistakenly thought that the Church of England would be interested in their land being put to good use, providing affordable housing for local people.
I was wrong however, as the church was even more determined than other landowners to maximise monetary value, partly driven by Charities Act requirements. The issue we have had with one Diocese in particular is that with current uncertainty over planning and the possibility of exception sites at some time in the future becoming open market sites, they couldn't let any land go during a time when values were low.
We have now given up trying to deal with Diocese for affordable housing.
Comment on: Planning innovation boosts affordable housing
The mortgage market will kill this. We used the same model on a scheme in Norfolk - it is called Discounted Market Sale. The major mortgage lenders no longer support it because their systems cannot track the actual value of the equity in the property. They run the risk that Automated Valuation Software which is used for subsequent additional lending approvals automatically approves a loan for which there is no security, because it will assume full value of the security.
Discounted Market Sale was a great idea in principal, but the mortgage market conspires against it in practice.
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