The Government’s new Affordable Homes Programme is based on the introduction of a new and more flexible form of social housing, known as Affordable Rent.
Affordable rented homes will be let at rents up to a maximum of 80% of open market rent, and can be offered on flexible tenancies which will run for at least two years. Charging higher, but still affordable, rents will allow housing associations and local authorities to raise money through borrowing to fund the development of new affordable homes with much lower levels of grant than were previously available.
East Riding of Yorkshire Council’s successful bid to the Homes and Communities Agency’s Affordable Homes Programme 2011-2015 will mean that the new homes it provides will be let at Affordable Rents. A small proportion of its existing homes will also be converted to Affordable Rents when tenants move out and the homes are re-let to new tenants from the Council’s waiting list.
Whilst existing residents might have concerns, rents for existing tenants will not be affected.
Councillor Symon Fraser, cabinet portfolio holder for housing, environment and planning at East Riding of Yorkshire Council said
“We share the concerns that residents will inevitably have about these changes to future rent levels which we have no choice but to follow if we are going to deliver new affordable homes in the East Riding. We will do our best to ensure that the impacts are minimised and where we can we will try to reduce fuel bills through the installation of new technologies and eco-improvements, and keep the overall cost of living in the homes to a minimum.”
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