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Sat 12 Aug 2017, 08:40
But will it be genuinely affordable?* And if it is, will local people be given priority access to it? How? The legal definition of affordable is vague - see www.bbc.co.uk/news/business-38067626 'Reality Check: What is affordable housing?'
https://www.theguardian.com/housing-network/2014/feb/03/affordable-housing-meaning-rent-social-housing 'Beware of politicians talking about affordable homes. New 'affordable' housing is not actually that affordable' From page 50 of https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/6077/2116950.pdf:
Affordable housing: Social rented, affordable rented and intermediate housing,
provided to eligible households whose needs are not met by the market. Eligibility
is determined with regard to local incomes and local house prices. Affordable
housing should include provisions to remain at an affordable price for future
eligible households or for the subsidy to be recycled for alternative affordable
housing provision.
Social rented housing is owned by local authorities and private registered providers
(as defined in section 80 of the Housing and Regeneration Act 2008), for which
guideline target rents are determined through the national rent regime. It may also
be owned by other persons and provided under equivalent rental arrangements to
the above, as agreed with the local authority or with the Homes and Communities
Agency.
Affordable rented housing is let by local authorities or private registered providers
of social housing to households who are eligible for social rented housing.
Affordable Rent is subject to rent controls that require a rent of no more than 80%
of the local market rent (including service charges, where applicable).
Intermediate housing is homes for sale and rent provided at a cost above social
rent, but below market levels subject to the criteria in the Affordable Housing
definition above. These can include shared equity (shared ownership and equity
loans), other low cost homes for sale and intermediate rent, but not affordable
rented housing.
Homes that do not meet the above definition of affordable housing, such as "low
cost market" housing, may not be considered as affordable housing for planning
purposes.
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