Successful places with homes and jobs A NATIONAL AGENCY WORKING LOCALLY 15 June 2016 Helen Fielding Housing LIN Yorkshire and Humber

HCA’s offer  200,000 Starter Homes by 2020  Single Land Programme to deliver public land to the market  Home Building Fund through HCA-I  Help to Buy Extension to 2021  135,000 Help to Buy Shared Ownership by 2021  10,000 Rent to Buy homes  8,000 specialist homes for older people and those with disabilities  Other programmes & support

200,000 Starter Homes by 2020  Sold at a 20% discount compared to market value to young first time buyers  Available to first time buyers years old; capped at £250,000 (80% value)  £2.3 billion fund to support the delivery of up to 60,000 homes  £1.2bn for LAs working with the HCA to acquire or prepare brownfield land for at least 30,000 homes – Unlocking the Land Fund  £1.1bn in later years to support purchasers/developers (tbc)  Remainder via the reform of the planning system – SH Technical Regulations will set out (consultation closed end May) the-land-fund

Single Land Programme  Overall objective to dispose of surplus public sector land with capacity for at least 160,000 homes  Investment in HCA’s existing land portfolio to bring land to the market  Investment in surplus sites that transfer from Other Government Departments for disposal  Investment in HCA’s employment land including Enterprise Zones to deliver employment floor space  Funded by the re-cycling of receipts from sales of HCA’s existing assets NEYTH generated huge employment floor space, equating to 25 football pitches !

Home Building Fund  £3bn – managed by HCA-I  To be launched after 23 June 2016  To deliver public land to the market  £1bn of short term funding to provide loans for term of up to five years  Includes existing £525m Builders Finance Fund which has been successful in the NEYH area  £2bn long term funding to support a strong future pipeline of delivery  To unlock development on brownfield land Custom Build Builders Finance Fund Infrastructure funding

Help to Buy Extension to 2021  Supporting purchase of 145,000 new build homes  £2.6bn extra funding  Very successful in NEYH NEYTH: £270m Help to Buy Investment; that’s 8,183 homes

135,000 Help to Buy Shared Ownership by 2021  £4.7bn – prospectus launched 13 April 2016; £4.1bn for SO  Deadline for bids noon 02/09/2016; announcement December 2016  Registered Providers and unregistered bodies can bid; must be/become Investment Partner to receive grant  Household incomes <£80,000  Initial share sold 25-75%; rent on unsold share not more than 3% pa  Service charge; full repairing lease; staircasing by increments of 10%  Some flexibility in how to make as affordable as possible to buyers  Help to Buy Agents still involved  OPSO and HOLD still available  Uneven funding profile – 90% across 2018/19 to 2020/21 homes-programme-2016-to-2021-prospectus

Rent to Buy  Part of the SOAHP  10,000 Rent to Buy homes  First Time Buyers; must be working at time of letting  Let at Intermediate Rent for 5 years; Right to Buy does not apply  Let on assured short-hold tenancies, fixed term <2 years  After the first 5 years – Tenant has right of first refusal to buy – The provider can continue to rent the property or sell on the open market  Must be/become Investment Partner to receive grant  Must ultimately be owned and managed by a Registered Provider

Specialist Homes  Part of the SOAHP  8,000 specialist homes for older people and those with disabilities  Older people & 15 ‘specialist’ groups as per the CGF  Can be let at social or affordable rent  Must be/become Investment Partner to receive grant; must be let by Registered Provider  Additional criteria  Usually self contained unless shared living clearly meets need

Other programmes & support  Estate Regeneration to regenerate run down estates  Locally-led Garden Villages, Towns and Cities (1,500 homes and above) programme  Healthy Towns (NHS England) sites (250+ units) that include an ambition for health and innovation  HCA ATLAS support, focussed on helping partners to progress specific large scale projects

Conclusion  What could the Housing LIN members role be in Starter Homes alongside specialist provision?  Would you be interested in development/infrastructure finance?  Feedback so far suggests RPs will bid for Rent to Buy & Specialist  And partners are identifying markets where Help to Buy Shared Ownership will add value  Some RPs having success with shared ownership – when marketed via sales teams, not housing management; promoted very much as owning a home  How can we make best use of the programmes in Yorkshire and the Humber?

Questions? Stay in touch!