Homes England this week began allowing companies and organisations to register as new partners in its £7.5bn Affordable Homes programme, the next phase of which is due to start later this year.

The 2021-26 programme aims to build 180,000 homes outside London. A further £4bn has been made available by the government, under the control of the Greater London Authority, for accommodation in the capital. 

Applicants will be assessed on their ability to meet certain qualification criteria in respect of their current financial situation and capability to manage capital build projects. Third party contractors’ capability will also be checked.

Companies who apply will learn about any decision in eight weeks and applications can be made as a single entity, as a consortium or via a Special Purpose Vehicle, including local authority-led SPVs or in a joint venture company arrangement.

The new housing stock is to be made available on a 50/50 rental/home ownership basis and programme is also trialling a new shared ownership model which will:

  • reduce the minimum initial share you can buy in a property from 25% to 10%
  • allow people to buy additional shares in their home in 1% installments, with heavily reduced fees
  • introduce a 10-year period for new shared owners where the landlord will cover the cost of any repairs and maintenance

For full details of how firms qualify to take part, plus all the required application forms, click here.