Magazine article Public Finance

HCA Head Looks at Alternative Ways of Funding Social Housing

Magazine article Public Finance

HCA Head Looks at Alternative Ways of Funding Social Housing

Article excerpt

The traditional system for funding new social housing through government grants could be dismantled by the nascent Homes and Communities Agency.

Sir Bob Kerslake, chief executive designate of the HCA, is exploring alternative ideas with registered social landlords. One possible model involves the agency taking an equity stake in housing and sharing the profits made when the homes are sold on.

At present, RSLs fund homes for social rent and low-cost sale through a mixture of Housing Corporation grants and private borrowing, and retain any profit when a home is sold.

Kerslake said it was possible that homes might be funded through a combination of grants and equity shares. 'We want to look at different ways of achieving outcomes and part of that would be that funding was part of an investment rather than a grant,' he told Public Finance. …

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