Affordable homes scheme still open to landlords
Landlords whose bids for development money were rejected by the Homes and Communities Agency have been told they can still build homes under the affordable rent regime.
The HCA revealed the names of 146 bidders who have been allocated a slice of the £1.8 billion available for new homes on July 14. It also revealed 48 bids were rejected or withdrawn.
The HCA has previously said landlords will only be able to let homes at up to 80 per cent of the market – a product the government calls affordable rent - if they sign an agreement with the agency, leading to an assumption that landlords cannot build affordable rent homes outside the programme.
The agency has now said that landlords which have missed out on funding can sign a ‘short form agreement’ on a scheme by scheme basis with the HCA to build new homes for affordable rent without grant. Landlords will not, however, be able to convert existing social rent homes to the new product.
