£15m loan to increase affordable homes
- 06 Nov
South Oxfordshire Council has granted a £15 million loan to a housing association so that more affordable home can be constructed in the area.
The council have provided the loan to Soha Housing, for 20 years, and will be secured on the social landlord's current properties.
With the loan Soha Hosing will be able to access low cost funding and at least 75% of the home built with the funds must be within the council's area. The remaining affordable properties have to be within 10 miles of the district.
The money will also contribute to the social landlord's current development programme and the new properties will help the council tackle the housing list which currently has 1,450 people waiting, reports Inside Housing.
Ann Ducker, leader of the council, said: ‘One of the ways to make more social housing available is to ensure that funding streams are available which will allow building programmes to take place. This low-cost, long-term loan that we have approved is a great way to make sure that this happens. Over recent years, through extremely careful financial planning we have built up sizable cash reserves. We are now in a position where we can use a proportion of this money to address the housing need which is a real priority across the county, including many in the South Oxfordshire community.
Richard Peacock, chief executive of Soha Housing: ‘This is an innovative approach with the council and Soha working together in a way that benefits both parties and, more importantly, local residents in pressing need of new affordable homes. The loan is really good news for Soha and for its residents, making sure that Soha can include lots of new homes within the South Oxfordshire area as part of its development programme.'
What do you think of this? Tweet us your comments @suppsolutions
Image source: http://www.sxc.hu/photo/1428066
- 02 Nov
THE ONS PLANS TO CHANGE THEIR DECISION TO MAKE HOUSING ASSOCIATIONS PUBLIC BODIES
According to reports by 24 Housing, the ONS said the following:Gavin Smart, Chartered Institute of Housing's deputy chief executive also said:"Although we have been expecting this decision for some...
- 30 Aug
RECENT ANALYSIS FINDS THAT THE HELP TO BUY SCHEME HAS ADDED TO THE INFLATION OF HOUSE PRICES
The analysis of the Help to Buy Scheme revealed the following:The chief executive of Paradigm Housing Group, Matthew Bailes, said:" ... clearly, it worked well for developers, and for providers, it...
- 22 Aug
A NORTH WALES COUNCIL REVEALED THEIR WAITING LIST FOR NEW HOMES HAS REACHED BREAKING POINT
The north Wales Council revealed their waiting list for new homes has reached "breaking point".According to Clare Budden, Flintshire Council's community enterprise chief officer said:"There are...
- 17 Aug
HOMELESSNESS POLICY IS UNDER REVIEW IN A NORTHAMPTONSHIRE COUNCIL
Kettering Borough Council has amended its letters to homeless residents to let them know of their right to request a temporary accommodation review.According to an ombudsman, Michael King:"People in...
- 15 Aug
FINANCIAL CONSTRAINTS HAVE CAUSED THE CLOSURE OF MANY CHILDREN AND YOUTH CENTRES
Local Government Association (LGA) made the following findings:Chair of the LGA's children and young people board, Richard Watts, said: "The reality is that services for the care and protection of...
- 11 Aug
RESIDENTS OF BUILDINGS IN LEDBURY ESTATE, SOUTHWARK, SOUTH LONDON WILL BE MOVED OUT TEMPORARILY
The buildings in Ledbury Estate in Southwark have been constructed in a similar way to Ronan Point, a tower block in Newham which collapsed in 1968 as a result of a gas explosion, killing three. An...
- 10 Aug
THERE IS A DECLINE IN THE HOUSING MARKET IN LONDON AND OTHER PARTS OF THE SOUTH EAST OF ENGLAND
The Royal Institution of Chartered Surveyors (Rics) made the following findings:Chief Economist at Rics, Simon Rubinsohn:"Sales activity in the housing market has been slipping in the recent month...
- 07 Aug
REPORT FINDS THAT PEOPLE ARE INTENSELY SUFFERING FROM LACK OF AFFORDABLE HOMES IN SCOTLAND
According to the report by "Shelter":Shelter's deputy director, Alison Watson, said:"This report shows the disproportionate impact of Scotland's housing crisis on young people and private renters who...
- 02 Aug
NEW REPORT BY THE PUBLIC ACCOUNT COMMITTEE IN WALES COMMENDS HOUSING ASSOCIATIONS
The report which was put together after nine months of inquiries stated the following:Nick Ramsey, Chair of the Public Accounts Committee, said:"Generally, we found governance and regulation within...
- 31 Jul
LONDON COUNCIL URGES THE GOVERNMENT TO MAKE MEASURES TO END LETTING FEES FOR PRIVATE RENTERS
The London council say urgent action is needed because the government has not provided "a clear timescale to introduce its own measure", Letting Agent Today, reports.Last year, the government had...
Responding to the DWP Consultation: Housing Benefit Reform - Supported Housing "I found the event informative and timely it helped me to complete our response to DWP without which I would have struggled." S.S. - Safe House