This prospectus invites applicants to bid for up to £200 million of recoverable loans to support building of fixed term affordable homes between 2015 and 2017.
The prospectus sets out the detail of the funding and bidding process of the Rent to Buy scheme. Funding is available for schemes outside of London.
Bidders have the flexibility to repay the loan at any time but must retain and let the homes at affordable rent for a minimum of 7 years post completion. They must also repay the loan no later than 16 years after construction of the funded homes.
Following the Government’s Autumn Statement (November 2015) the Rent to Buy programme has now closed to new applications. This page will be updated with further information as it becomes available.