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Frank Hovis

Affordable Housing Grants To Stop

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This also scraps the build targets you may have heard about locally such as 10,000 new homes by 2015.

It's not being done as badly as the college building programme, where they were stopped mid-build, but it looks like anything not formally granted, even it has been "allocated", will be pulled.

House builders' shares to collapse as this is a huge part of their work these days. They will have one year's worth of existing orders and that will be that. The tide is going out.

http://www.insidehousing.co.uk/news/development/treasury-review-targets-housing-spending/6509900.article

Homes and Communities Agency schemes worth £380 million at risk

Treasury review targets housing spending

21/05/2010 | By Carl Brown

Plans to build thousands of affordable homes with £380 million of public funds are under threat following the announcement of a government spending review.

David Laws, chief secretary to the treasury, has written to secretaries of state asking them to re-examine all spending commitments approved since New Year’s Day.

It comes as Communities secretary Eric Pickles ordered a review of the value for money of the government’s £285 million mortgage rescue scheme for struggling homeowners.

The Treasury review will look at quangos, including the Homes and Communities Agency’s expenditure on affordable housing schemes and the decent homes programme.

It will see projects deemed poor value for money scrapped, with decisions on projects already underway being taken as a priority.

The HCA has this year announced more than £380 million of funding for 36 major projects delivering 5,572 homes.

Decisions under review that were approved this year include a £27 million HCA grant to fund the first phase of the 4,500-home Woodberry Down project in Hackney.

Other decisions to be examined include £41 million towards 819 new homes on Stepney’s Ocean estate, £5 million for 51 new homes in the Ore Valley, Hastings, and £122.6 million to 73 councils as part of the local authority new build programme.

Steve Douglas, interim corporate director of neighbourhoods and regeneration at Hackney Council, said work would continue as normal at Woodberry Down and other projects. He said: ‘We have had no indication from the HCA that it is not going to honour its commitments.’

There could also be funding cuts to the housing market renewal pathfinder programme.

Jim Johnsone, director of housing renewal partnership Tees Valley Living is hoping that an approved £10 million to renew homes across Teeside will not be axed. He said: ‘We are very concerned, we need to keep our projects’ momentum going.’

Recent allocations of funding to arm’s-length management organisations under the decent homes programme are also threatened.

Gwyneth Taylor, policy director at the National Federation of ALMOs, said around 20 organisations are mid-contract and have had funding approved this year.

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By " Affordable Housing Grants"

Do you actually mean the insane government "UN- Affordable Housing Grants" ?

A small difference but an important one I feel. There is nothing afforable about £120K, 1 bed shoe-box flat when you earn 12K a year.

Edited by TheCountOfNowhere

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By " Affordable Housing Grants"

Do you actually mean the insane government "UN- Affordable Housing Grants" ?

A small difference but an important one I feel. There is nothing afforable about £120K, 1 bed shoe-box flat when you earn 12K a year.

Oh yes there is. Because by the magic of shared ownership you can buy 25% of that house (a not untypical percentage) for a mere £30k and become a home-owner. You lucky Count.

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Oh yes there is. Because by the magic of shared ownership you can buy 25% of that house (a not untypical percentage) for a mere £30k and become a home-owner. You lucky Count.

I think you'll find it would be more like £40k for a 25% share of a £120k. These people are doing us a favour offering such splendid shemes!

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Oh yes there is. Because by the magic of shared ownership you can buy 25% of that house (a not untypical percentage) for a mere £30k and become a home-owner. You lucky Count.

To be frank, you'll often find that 25% of an Affordable home will cost say £50,000, even when there are non Affordable Homes available just down the road at say £175,000 for 100%.

Whovis benifits is hard to say.

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If this is plain old council housing then it's a shame, however itf it's funding for the giant scam that is part buy, part rent, then good stuff!

The part buy system is a giant con, all it's doing is getting FTBs into a life long debt for a shoddy shoe box

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