After little media debate, but many questions from partners in recent weeks, Grant Shapps has unveiled the new model he wants to deliver 150,000 new affordable homes across England over the next few years.
Affordable Rent (as it is called) is intended to enable housing providers to bring vacant homes back into use and deliver new housing. This will be part-funded by allowing providers to charge up to 80% of market values on the properties, with the HCA looking to invest around £2bn in this new ‘product’.
This proposition (very different though it is) has resulted in many various expectations and questions about what it will deliver and how it will work. Hopefully, the detail revealed today will answer many of those questions that have been posed to date.
Details of Grant Shapps’ Ministerial Speech can be found here.