Homes England has today announced that grant funding provided
through the Government’s Affordable Homes Programme 2021-26 can
now be used to fund replacement homes, alongside new affordable
homes, as part of wider estate regeneration plans.
This means that the housing and regeneration agency can better
support its partners to replace housing that is outdated and no
longer fit-for-purpose, with a larger number of high-quality,
energy efficient new affordable homes.
Peter Denton, Chief Executive of Homes England, added:
The affordable housing sector has always had to balance the
investment it makes in existing homes with the investment in
makes in building new homes. Over the past year, increasing
financial pressures have made achieving that balance even more
difficult to manage.
This change is something the sector has been calling for, and
with it there is a real opportunity to accelerate the
regeneration of social housing and help level up communities
across the country.
We’ll be working quickly to make this funding available to ensure
partners can get the maximum benefit from this change, and are
ready to use all of the tools, capacity and capability we have
available to us to support delivery. We encourage all affordable
housing providers and local authorities to come and talk to us as
early as possible if they need support to develop their proposals
– we’re here to help.
This change to the Affordable Homes Programme has been agreed
with the Department for Levelling Up, Housing and Communities,
and is part of the Agency’s wider efforts to help bolster the
affordable housing sector and maintain housing supply.
It also aligns with the agency’s five-year
strategic plan, published in May, which clarifies its mandate
to drive regeneration and housing delivery to create high quality
homes and thriving places across England.
Grant funding for estate regeneration is available to partners
looking to replace existing homes with new affordable homes and
build additional new affordable homes. Grant funding from the
Affordable Homes Programme is also still available to those
looking to only build new affordable homes. Providers can apply
through Homes England’s continuous market engagement route, while
existing Strategic Partners will be able to use grant already
allocated to them.
The change will come into effect immediately and funding
decisions will be made on a regular basis up until the end of
March 2025, subject to availability of funding. Homes England is
keen to see proposals that can deliver at pace, maximise the
number of new affordable homes, and enhance wider efforts to
level up and regenerate communities. All schemes must start on
site by 31 March 2025 and will need to complete within the
Affordable Homes Programme’s current timeframes.
Notes to Editors
- Further guidance and information can be found on our website
