The Housing Corporation's proposal that funding for affordable housing grant will be allocated at different points in the cycle, rather than at a single point every two years, received a warm welcome from the sector. This was the expressed view of the Housing Corporation, as it launched its latest investment paper - Future Investment Approaches: Towards the 2008-10 Bid Round.
Other proposals being considered include:
The changes could come into force in time for the start of the 2008 bid round.
This follows extensive consultation with key stakeholders, including housing associations, developers, regional assemblies and local authorities, on the Corporation's Future Investment Approaches discussion document, which sets out proposals for modernising the investment system.
A working group was also set up, bringing together housing associations, house builders the National Housing Federation, the Home Builders' Federation, the Building Research Establishment and the Council of Mortgage Lenders, to consider the arrangements for managing the Corporation's investment programmes. Key issues explored included:
A clear majority of respondents welcomed the overall thrust of the proposals, namely that more flexibility and a closer alignment with the organisation's business models would help drive greater efficiency.
A copy of the paper is available from the Housing Corporation website at housingcorp.gov.uk.
