Registered Social Landlords (RSLs) and other partners, eligible for funding through the National Affordable Housing Programme, have been given a menu of options from the HCA to support them through the current volatile market.
Sir Bob Kerslake, Chief Executive of the HCA said: "We want to work with partners individually to come up with tailored solutions that will help maintain and increase capacity. For example, we are exploring the feasibility of converting existing low cost home ownership properties to rent-to-buy, this would involve the HCA supplying investment funding with the expectation - in the medium term - of a return once homes are sold.
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"We have the flexibility to provide not only grant, but different types of investment that will assist partners continue their development programmes. This is a 'something for something' strategy that should start to unblock the housing 'stalemate' by increasing levels of rental homes and kick starting stalled schemes."
Other measures, outlined in a letter to development partners, include support from the HCA to assist with accessing funding for land purchase; an equity investment model to support the development of major strategic sites; and access to HCA sites for development.
(CD/JM)
