This prospectus invites applications for up to £4.7 billion of funding to increase the supply of new shared ownership and affordable homes.
In April 2016 the Homes and Communities Agency (HCA) opened bidding to the Shared Ownership and Affordable Homes Programme 2016 to 2021 (SOAHP 2016 to 2021) through publication of a Prospectus.
Initial allocations of capital grant for new affordable housing schemes were announced on 5 January 2017. As planned these did not allocate all of the available budget, with £1.3 billion remaining available.
Continuous market engagement
Following the Chancellor’s Autumn Statement, delivered on the 23 November 2016, the government reaffirmed its continued commitment to extending home ownership, including through the SOAHP 2016 to 2021, announcing:
- an additional £1.4 billion to deliver a further 40,000 affordable homes (some of this budget will be allocated by the Greater London Authority (GLA) for homes in London, rather than through the SOAHP 2016 to 2021)
- the availability of grant for Affordable Rent schemes
In line with this commitment and as signalled in the SOAHP 2016 to 2021 Prospectus, the HCA is reopening bidding for funding to develop additional affordable housing through a continuous market engagement (CME) process. The available funding includes both the £1.3 billion which was not allocated at the initial bid round and a share, to be determined, of the £1.4 billion announced at the Autumn Statement, for new affordable homes outside London.
Funding outside London will be allocated by the HCA through the 2016 to 2021 Shared Ownership and Affordable Homes Programme. A separate programme for London will be delivered by the GLA.
Full details of the CME process and how to bid for funding are published in the 2016 to 2021 Shared Ownership and Affordable Homes Programme addendum to the prospectus. Publication of the addendum signals the start of continuous bidding. We are not setting a closing date for applications at this time.
The HCA welcomes bids from organisations which have not previously received funding.
During the bid round if you have any questions about bidding please email AHPFAQ@hca.gsi.gov.uk or contact your local HCA area team.