Capital Funding Guide - 16. Glossary - Guidance

Accounting Period

The period to which the provider鈥檚 income and expenditure account relates.

Acquisition

The completion date of contracts to purchase land or property.

Affordable Housing

Affordable housing includes social and affordable rented housing, including housing that offers a subsidised route to home ownership, provided to specified eligible households whose needs are not met by the market. Affordable housing should:

Meet the needs of eligible households including availability at a cost low enough for them to afford, determined with regard to local incomes and local house prices
Include provision for the home to remain at an affordable price for future eligible households or, if these restrictions are lifted, for the subsidy to be recycled for alternative affordable housing provision

Affordable Homes Programme 2021 to 2026

The Affordable Homes Programme provides grant funding to support the capital costs of developing affordable housing for rent or sale.

Affordable Homes Guarantees Programme

A government grant funded guarantees programme, launched in 2013, to help housing providers expand the provision of affordable housing.

Affordable Home Ownership

This is an umbrella term for products targeted at households who are unable to purchase a home on the open market.鈥� Although the Government鈥檚 National Planning Policy Framework glossary (annex 2) sets out a range of affordable housing products, within Homes England鈥檚 SOAHP 2016 to 2021 and AHP 2021 to 2026 affordable home ownership includes Shared Ownership and Rent to Buy products.

Affordable Rent

A form of social housing, involving homes being made available at a rent level of up to 80% of market rent (inclusive of service charges). You can find more information in the Government Policy statement on rents for social housing and the Regulator of Social Housing Rent Standard.

Arm鈥檚 Length Management Organisation

A body set up by some local authorities to take over the day-to-day running of their properties

Care and Support Specialised Housing Fund

The 2013 to 2021 Care and Support Specialised Housing Fund was delivered by Homes England on behalf of the Department of Health. The aim of the programme was to support the development of homes for older people and adults with disabilities. See the Care and Support Specialised Housing Fund chapter for further details. Funding for this programme has now closed, You can find out more in chapter 5 of the Department of Health and Social Care Programmes.

Charitable Incorporated Organisation

A Charitable Incorporated Organisation (CIO) is an incorporated body with a constitution and legal identity that is quite separate from its trustees or members. The trustees or members of a CIO will have limited or no liability. CIOs must be registered with Charity Commission. There are two types of CIOs:

Foundation CIOs where the voting members and charity trustees are one and the same
Association CIOs which have a wider membership than the Foundation CIO, including members who are not trustees

Code for Sustainable Homes (CSH)

A mandatory environmental assessment method used for new homes prior to April 2015. It is no longer a requirement for funding for affordable housing. It was based upon the Building Research Establishment鈥檚 EcoHomes standards for the environmental rating of homes. The Code for Sustainable Homes replaced EcoHomes in 2007 for the assessment of new housing in England.

Compliance Audit

Compliance Audit provides assurance that providers that have received grant have adhered to the funding conditions and requirements set out in the Capital Funding Guide and their funding contracts. The assurance provided, including to the Accounting Officer, is part of Homes England鈥檚 affordable housing funding framework and is considered by our internal auditors as well as the National Audit Office.

Compulsory Purchase Order

A legal function to allow property to be compulsorily purchased by a public body.

Continuous Market Engagement (CME)

CME鈥痠s a mechanism which provides access to grant throughout the duration of the programme, while funding remains available. This route allows providers to apply for funding for individual schemes. Providers do not need to be an investment partner to apply for funding through CME, but must have gained investment partner status before grant payments can be made.

Cost Floor

In the context of Right to Buy, cost floor is a reduction of discount to take account of the cost of work carried out by the landlord on a home. This may apply if the home subject to Right to Buy was recently purchased or built by the landlord or he has spent money on repairing or maintaining it.

Under the cost floor, the discount the tenant receives must not reduce the price the tenants pays below what has been spent on building, buying, repairing or maintaining it. If the cost of works carried out over the 10 year period is greater than the market value of the home, the tenant will not receive any discount. This period is 15 years if the home was built or acquired by the landlord after 2 April 2012. Under the Preserved Right to Buy, the cost floor period is 15 years regardless of when it was built or acquired.

(The) Corporation

The Housing Corporation - historical reference to one of Homes England鈥檚 predecessor bodies. Where this occurs in this Guide it should normally be taken to mean Homes England. However, in the context of Regulation, Disposal Proceeds Fund or section 172 consent, it will refer specifically to the Regulation arm of Homes England, otherwise known as the Regulator.

Deemed Loan Debt

This is the amount of the Total Capital Costs of scheme not funded by either:

public capital subsidy (Grant/Recycled grant/Disposal Proceeds fund plus any Other Public Subsidy)
sales receipts (if applicable)
the provider鈥檚 own resources

If the project includes more than one property, the Deemed Loan Debt must be apportioned between them using the same formula as that used to apportion the Capital Grant. This formula must not be altered by adding, for example, any penalty charged by a lender for premature redemption of a loan, or substituting the actual loan debt should it be greater.

Department for Levelling Up, Housing and Communities

From September 2021 to July 2024 the central government department responsible for levelling up, housing, communities and local government in England. In July 2024 the department鈥檚 name reverted to its previous name - the Ministry of Housing, Communities and Local Government (MHCLG).

Designated Protected Areas

A principle introduced by The Housing (Shared Ownership Leases (Exclusion from Leasehold Reform Act 1967) (England) Regulations 2009 with effect from 7th September 2009, to assist the retention of shared ownership property in hard to replace rural areas (for example, those exempted from the Right to Acquire) by either restricting staircasing to 80% or requiring the leaseholder to sell back to the landlord (or other landlord nominee).

Designated Protected Areas Repurchase

Repurchase of grant-funded shared ownership property originally built subject to Homes England鈥檚 Protected Areas policy (please see Protected Areas below) by the landlord or a suitable nominated organisation. Where alternative means of funding have been robustly explored, Homes England will fund the repurchase of eligible Protected Area grant funded shared ownership property.

Disabled Facilities Grant

Government funding to local housing authorities to provide and improve adaptation services to disabled people enabling them to continue to stay in their own homes.

Disposal

The disposal of or of any interest in an affordable housing dwelling or land which has a grant attached, including:

selling it
leasing it
mortgaging it
making it subject to a charge and
disposing of it, or of any interest in it, in any other way

Disposal Proceeds Fund

A requirement by private registered providers of social housing (PRPs) under Section 177 (1) of the Housing and Regeneration Act 2008 (the 2008 Act) to show the net proceeds of certain types of disposal, payments of grant and repayments of discount separately in their accounts as a Disposal Proceeds Fund (DPF). Sums must be used or allocated in the DPF only as directed by the Regulator. The use of the Disposal Proceeds Fund was subject to guidance and direction by the Regulator of Social Housing. This guidance has been removed as legislative changes meant it ceased to apply from 6 April 2020.

Dwelling

This is defined in section 275 of the Housing and Regeneration Act 2008 as a building, or part of a building occupied or intended to be occupied as a separate dwelling, together with any yard, garden, outhouses and appurtenances belonging to it or usually enjoyed with it.

Help to Buy Agents

Homes England contracts with 3 local Help to Buy Agents providing coverage across England. The network provides a one-stop shop for potential buyers looking to access affordable home ownership. Developing providers who are delivering Shared Ownership or Help to Buy through Homes England must enter into and sign up to the Service Level Agreement with the Agents that operate in the localities where they are developing. You can find more information in chapter 1, section 3: Applicant Eligibility.

Help to Buy 鈥� Equity Loan

Help to Buy 鈥� Equity Loan is an equity loan scheme funded by the Government through Homes England. The Help to Buy product is available to eligible purchasers and is paid directly to house builders that are registered and in contract on the scheme. It offers a maximum 20% equity loan (40% in London) on new build properties with a 鈥榤aximum property purchase price鈥� limit for the home customers can buy depending on which region it鈥檚 in. You can find more information on our Help to Buy 鈥� Equity Loan guidance pages.

Housing Association as Managing Agents

Accommodation managed by a Registered Provider as an agent for the owner.

HomeBuy

Now defunct generic name for a suite of Affordable Home Ownership products (Shared Ownership, Equity Loans, New Build HomeBuy, Social HomeBuy, Open Market HomeBuy, and HomeBuy Direct) designed to help social tenants and others in priority need purchase a suitable home. These products were launched within the National Affordable Homes Programme 2006 to 2008, with HomeBuy Direct being available from February 2009.

HomeBuy Direct

This was an equity loan product available under the National Affordable Homes Programme 2008 to 2011 and the Kickstart programme. It was an affordable home ownership product designed to help eligible deposit constrained applicants to buy a newly built home on selected sites with the assistance of two equity loans. The equity loans were of equal amounts, one funded by Homes England and one by the developer, in support of an applicant鈥檚 conventional mortgage loan and any savings. This product is no longer available.

Homelessness Change Programme (HCP) 2012 to 2015

The 2012 to 2015 HCP formed part of the 2011 to 2015 Affordable Homes Programme. The programme鈥檚 aim was to support other work being undertaken to end rough sleeping by providing funding to support the development and improvement of hostels to support rough sleepers, and those at risk of sleeping rough. The programme ended on 31 March 2015.

Homelessness Change Programme (HCP) 2015 to 2017

The Department of Health-funded 2015 to 2017 HCP supported the development of tailored hostel accommodation and improved facilities for the provision of healthcare, training or education for rough sleepers with the aim of helping them off the streets and transforming their lives. Funding provided or improved accommodation and / or basic facilities in which healthcare could be delivered, designed to address the health needs of residents, along with communal areas providing space for education and training opportunities to support residents into more stable independent living. Funding for this programme has closed. You can find more information in chapter 5, Department of Health and Social Care Programmes.

Hostel

This is defined in section 63 of the Housing Act 1996 as a building in which is provided for persons generally or for a class or classes or persons:

Residential accommodation otherwise than in separate and self-contained premises
Either board or facilities for the preparation of food adequate for the needs of those persons, or both

Housing Association Grant

Housing Association Grant was paid by the Housing Corporation between 1974 and 1996. See Social Housing Grant and Social Housing Assistance.

Housing Benefit

A government benefit which pays all or part of the rent and service charge for a property.

Housing for Older People

Accommodation specifically for older people which either incorporates a range ofbasic facilities and special design features or is specially designated housing for older people. The distinctive design features should be over and above lifetime homes adaptations to general needs properties. The age of tenants actually resident is not a defining feature. Homes England divides housing for older people into three types:

housing for older people (all special design features)
housing for older people (some special design features)
designated supported housing for older people

See Specialist Homes for Older, Disabled and Vulnerable People for definitions of supported housing and housing for older people stock

Housing Market Renewal Fund

Government funding that was previously made available to help to tackle low demand in areas where the housing market is thought to be failing. This programme closed in March 2011. See Pathfinder projects.

Housing Quality Indicator (HQI)

A comprehensive set of measures which were used to evaluate existing and planned affordable housing developments on the basis of quality as opposed to simply cost. The indicators covered the location, the design and the performance of the housing scheme 鈥� these 3 categories produced 10 鈥楺uality Indicators鈥� that made up the HQI system. HQIs are no longer used by Homes England.

Investment Management System (IMS)

Homes England鈥檚 computer system for:

The processing of schemes and payments of grant
End of Year Returns for the Recycled Capital Grant Fund
All provider milestone notifications and grant claims

Intermediate Housing

A sub-market rent where the rent must not exceed 80% of the current market rent (inclusive of service charges). It is not to be confused with Affordable Rent (please see definition above) which is available with a range of tenancy options and was made available to tenants on the same basis as Social Rent. Rent to Buy homes funded by Homes England include a minimum 5-year period of Intermediate Rent prior to the option of outright purchase. Intermediate Rent homes were grant funded in the past prior to the 2011 to 2015 AHP. Note also that homes let on an Intermediate Rent basis are not covered by the Regulator of Social Housing鈥檚 Rent Standard. For more information refer to the Government Policy statement on rents for social housing.

Intermediate Rent

A sub-market rent where the rent must not exceed 80% of the current market rent (inclusive of service charges). It is not to be confused with Affordable Rent (please see definition above) which is available with a range of tenancy options and was made available to tenants on the same basis as Social Rent. Rent to Buy homes funded by Homes England include a minimum 5-year period of Intermediate Rent prior to the option of outright purchase.

Intermediate Rent homes were grant funded in the past prior to the 2011 to 2015 AHP. Note also that homes let on an Intermediate Rent basis are not covered by the Regulator of Social Housing鈥檚 Rent Standard. For more information refer to the Government Policy statement on rents for social housing.

Independent Qualified Valuer

The District or Borough Valuer or a professional associate or fellow of the Royal Institute of Chartered Surveyors or any successor body or bodies thereof, who is not employed by, or acting on behalf of, or a member of the family of, the person or organisation selling or transferring or purchasing the property or land being valued. 鈥楳ember of the family鈥� is defined in section 62 of the Housing Act 1996 (as amended by the Civil Partnership Act 2004) as spouse of that person, or living together as husband and wife, or that person鈥檚 parent, grandparent, child, grandchild, brother, sister, uncle, aunt, nephew, or niece. A relationship by marriage is the same as by blood, half-blood as whole-blood, and stepchild as child.

You can find more information about valuations in the Procurement and Scheme Issues and Shared Ownership chapters. The former has an explanation of our funding requirements concerning RICS 鈥楻ed Book鈥� valuations and when:

the 鈥楻ed Book鈥� valuation can be undertaken by an individual/organisation that is not external to the grant recipient organisation, and
when the 鈥楻ed Book鈥� valuation must be completed by an external valuer i.e., for the initial sale (and future staircasing transactions) of a Shared Ownership home, and sales through the Rent to Buy, Right to Acquire and Social HomeBuy programmes.

Large Scale Voluntary Transfer

Whole or partial transfer of the housing stock from a local authority to a Registered Provider. This can take two forms:

Transfer to an existing Registered Provider
Transfer to a new Registered Provider established specifically to take the transfer, either as an independent Registered Provider or as part of an existing Registered Provider group

Lead Provider (or Lead Partner)

Where a number of providers have formed a consortium to deliver homes through Homes England鈥檚 AHP. One provider is required to undertake the role of lead provider who will be deemed responsible to Homes England for a number of additional responsibilities and obligations on behalf of the other providers within that consortium partnership. These responsibilities are set out in the delivery contracts for the relevant Homes England AHP.

Leasehold Repurchase

The repurchase by a provider of some, or all, of the leaseholder鈥檚 shares in a grant- funded Shared Ownership home, potentially with new grant. This includes Shared Ownership where the leaseholder is in mortgage difficulty, Rural Repurchase and Designated Protected Area Repurchase. (See Flexible Tenure).

Letting

This includes a sub-lease, sub-tenancy, or licence and an agreement for a lease, tenancy, licence, sub-lease, or sub-tenancy.

LMVB (Low Medium Volume Builder)

A Low Medium Volume Builder (LMVB) is defined as a company which produces fewer than 2,000 units per year. The company should not be a subsidiary of a parent company, or hold legal recourse (a guarantee or indemnity from a parent company in favour of the entity), where the cumulative outputs of the companies amount to more than 2,000 units per year in the United Kingdom.

Local Authority

The Local Government Act 2000 defines local authority in relation to England as a county council, a district council, a London borough council, the Common Council of the City of London in its capacity as a local authority, the Council of the Isles of Scilly or an eligible parish council. A parish council is 鈥渆ligible鈥� for the purposes of Part 1 if the council meets the conditions prescribed by the Secretary of State by order for the purposes of this section.

Local Enterprise Partnerships

Locally-owned partnerships between local authorities and businesses, playing a role in determining local economic priorities and undertaking activities to drive economic growth and the creation of local jobs.

Local Investment Plans

The Local Investment Plan (LIP) is a plan designed to secure the delivery of housing led regeneration initiatives at the local level in support of national objectives. It is a key document to be used by the Homes and Communities Agency (HCA) (as part of its Single Conversation) and other partners in considering investment in an area.

Low Cost Home Ownership (LCHO)

Former term for Affordable Home Ownership. Within the current and recent Homes England AHP this primarily relates to Shared Ownership but would also include Rent to Buy Homes which, although let initially on Intermediate Rent terms for a minimum period of five years, are intended to be purchased outright at the end of this initial rental term.

Major Repairs Works

Works, other than improvements or cyclical maintenance, to a dwelling owned by a provider in order to ensure the continued habitability of the dwelling. Funding for major repairs has not been made available by Homes England since 2008 with an expectation that such works are funded by the landlord. Homes England reserves the right to still fund repairs in exceptional circumstances. You can find more information in the Housing for Rent chapter, section 6, Repairs).

Market Value

A formal valuation method set out in the Royal Institution of Chartered Surveyor鈥檚 Red Book and associated guidance. The Procurement and Scheme Issues and Shared Ownership chapters have for more information about valuations and Homes England grant funding requirements.

Ministry of Housing, Communities and Local Government (MHCLG)

From July 2024 the central government department responsible for housing, communities and local government in England. From September 2021 to July 2024 the department was known as the Department for Levelling Up, Housing and Communities (DLUHC). The latest name change represents a return to the department鈥檚 pre-September 2021 name.

Mixed Funding for Rent

Term formerly used to describe schemes made available through providers or others that provide permanent housing for rent at target rent levels, funded partly from Social Housing Assistance or other public subsidy and partly from private loans.

Modern Methods of Construction (MMC)

A range of building methods that are designed to be more efficient and effective ways of constructing buildings than traditional methods. Examples include factory produced structural systems and components.

Mortgage Rescue Scheme (MRS)

This programme was operational from January 2009 until March 2015. The product aimed atto assisting eligible home owners to avoid repossession. There were two products available through the MRS:

Mortgage to Rent, whereby a home owner sold their property to an eligible provider and became a tenant of thier own home
Equity Loan where a home owner sold part of their equity to an eligible provider but still remained the owner

The MRS closed to new applicants on 31 March 2014.

Partner Status

The status of any provider bidding through one of Homes England鈥檚 affordable homes programmes.

Pathfinder Projects

Pathfinder projects were part of the Housing Market Renewal Fund (see entry above). Pathfinder projects covered areas that were most acutely affected by low demand and abandonment in order to create sustainable communities. The Pathfinders covered: Birmingham and Sandwell; East Lancashire: Humberside; Manchester and Salford; Merseyside; Newcastle and Gateshead; North Staffordshire; Oldham and Rochdale and South Yorkshire. This programme closed in March 2011.

Planning Policy Statement 3

This set out the Government鈥檚 policy on a range of issues relating to planning in the provision of housing. Published in December 2006 and republished in June 2011 to account for the introduction of Affordable Rent. Replaced by the National Planning Policy Framework (NPPF) in March 2012 and revised on 20 July 2021 (see NPPF).

Platform for Life programme 2015 to 2017

The Department of Health-funded Platform for Life programme provided accommodation to be let at an Affordable Rent for young people aged 18 to 24 who were homeless or at risk of homelessness and in housing need. Tenancies were expected to be time limited and linked to participation in work, further education or vocational training, with the aim of assisting residents into long term employment and independence, and thereby improving their prospects for a successful and healthy life. Funding for this programme has closed. For more information refer to chapter 5, Department of Health and Social Care Programmes.

Post Sales Help to Buy Agent

A single national agent appointed to provide an administrative service for the Help to Buy Equity Loan scheme and other legacy equity loan products previously funded by Homes England or its predecessor organisations. This service is used by a buyer completing the purchase of their home, and subsequently making redemption payments, making changes to their agreement or requiring further information and asking questions about the scheme.

Practical Completion

Practical completion is reached when the works are completed and the homes are fit for occupation as a residential development, in accordance with National House Building Council (NHBC) requirements, and are sufficiently free of defects that the employer (the provider) is willing to accept the properties as ready for habitation. A certificate of partial completion may be issued when all the dwellings are handed over to the provider but some external works are incomplete, such as landscaping or boundary walls.

Programme Partnering Agreement

Funding arrangements under which the majority of Homes England鈥檚 NAHP 2008 to 2011 were delivered.

Prospective Rents

The rent which a provider, on the basis of its rent policies and business plans, would expect to charge at first letting for the house types in the schemes for which it had bid. This is the rent figure submitted in a bid for funding for a rental scheme.

Protected Areas

A principle introduced by The Housing (Shared Ownership Leases) (Exclusion from Leasehold Reform Act 1967) (England) Regulations 2009 with effect from 7 September 2009, to assist the retention of shared ownership property in hard to replace areas (e.g. those exempted from the Right to Acquire) by either restricting staircasing or requiring the leaseholder to sell back to the landlord.

Protected Areas Repurchase

Repurchase of grant-funded shared ownership property originally built subject to Homes England鈥檚 Protected Areas policy (please see Protected Areas above) by the landlord or a suitable nominated organisation. Where alternative means of funding have been robustly explored, Homes England will fund the repurchase of eligible Protected Area grant-funded shared ownership property.

Public Sector Body

A local authority, health authority, new town corporation, a nationalised industry, a Government Agency, an urban development corporation, the Crown, a housing action trust and a residuary body.

Purchase and Repair

The acquisition of a second-hand property for rent, or for sale as Shared Ownership where the cost of essential repairs is between 拢1,500 and 拢10,000.

Recovery Determination

A legal document setting out Homes England鈥檚 principles for the recovery of grant. Its full title is the Recovery of capital grants from registered providers general determination 2017 and is available in the Grant Recovery chapter, section 1.

Recycled Capital Grant Fund (RCGF)

An internal fund within the accounts of a provider used to recycle historical grant following relevant events outlined in the Recovery Determination (see above) in all its forms. This includes Housing Assistance Grant, Social Housing Grant and Social Housing Assistance in accordance with Homes England policies and procedures. Recycled grant held in a Recycled Capital Grant Fund may be spent (recycled) by providers on permitted uses set by Homes England. You can find out more information in the Grant Recovery 鈥� Registered Provider chapter.

Registered Provider

Any organisation, not for and for profit, registered with the Regulator of Social Housing as a registered provider of social housing. This can include housing associations, local authorities, charities and private companies.

A Housing Association or a not-for-profit company formerly registered with the Regulator of Social Housing to provide social housing. RSLs registered with the then social housing regulator, the Tenant Services Authority immediately prior to 1 April 2010 become Registered Providers.

The Regulator of Social Housing was previously constituted as the Regulation Committee within the Homes and Communities Agency.鈥疶he Regulator of Social Housing (RSH) became a stand-alone鈥痑rms length鈥痓ody on 1 October 2018. See Regulatory standards.

The Regulator of Social Housing (RSH) regulates registered providers of social housing to promote a viable, efficient and well-governed social housing sector able to deliver homes that meet a range of needs.

Regulatory standards

Regulatory standards contain specific expectations and the outcomes that providers are expected to achieve. Providers鈥� boards and local authority councillors who govern service delivery are responsible for meeting the relevant standards and determining how this is done. The standards are classified as either 鈥榚conomic鈥� or 鈥榗onsumer鈥� and replaced the Regulatory Code.

Regulatory Code

The Regulator鈥檚 governance, management & operational expectations for all Registered Social Landlords that applied until 1 April 2010. Replaced by the Regulatory standards. You can find more information from the Regulator of Social Housing.

Re-improvements

Work to property in the provider鈥檚 ownership which was originally produced with public sector funding. The re-improvement work can be improvements or conversion, and be sufficient to justify a change in rent. If no rent change is justifiable, the work is likely to be classed as major repairs.

Relevant Date

A grant recovery term. The date on which repayment of capital grant is due following a Relevant Event, as outlined in the Recovery Determination.

Relevant Event

Any event relating to property or land funded by Homes England, which the Recovery Determination specifies as being a trigger for grant recovery i.e. repayment or recycling of grant.

Rent Influencing Regime

The process by which the Regulator sought to bear down on rent increases through the issue of a guideline limit for rent increases, and influence rent levels through the rent restructuring framework. This was superseded by the Rent Standard Guidance which consolidates all of the previous guidance issued by the Housing Corporation and adopted by its successor body the Tenant Services Authority (TSA). It also incorporated guidance issued by the TSA in relation to Affordable Rent and included the requirements of the Rent standard that applies from 1 April 2012. For more information on the current approach to rent setting from 1 April 2020 refer to the Government Policy statement on rents for social housing and the Regulator of Social Housing Rent Standard.

Rent to Buy (grant funded)

This scheme allows working households to rent a home at an Intermediate Rent for a minimum of five years before having the option to buy providing them the opportunity to save for a deposit. This scheme was introduced through the Shared Ownership and Affordable Homes Programme 2016 to 2021 and continues to be available in the Affordable Homes Programme 2021 to 2026.

Rent to Buy (loan-funded)

A recoverable loan fund to support the development of fixed term affordable rent homes over a two year programme period, from 2015 to 2017. The programme was designed to support working households who have not owned a home before to achieve their aspiration of home ownership through a fixed period of sub-market rented housing. At the point the provider decides to sell the home to repay the Government鈥檚 loan, the tenant will have the option of buying the home at market value. This is separate to the grant-funded Rent to Buy (grant funded) product.

Resource Expenditure Limit

The annual financial resource (cash payments and year-end accruals) available to finance the affordable homes programmes.

Restructured Rents

An earlier Government policy approach for social housing rent setting (from April 2002) - also see above entry for the Rent Influencing Regime. For information on the current approach to rent setting from 1 April 2020 refer to the Government Policy statement on rents for social housing and the Regulator of Social Housing Rent Standard.

Right to Acquire

Under the Housing and Regeneration Act 2008, eligible tenants of eligible Registered Provider rented stock developed with Social Housing Grant or Social Housing Assistance (but not Housing Assistance Grant) have the legal right to purchase their home under the Right to Acquire with a discount.

Right to Shared Ownership

Introduced by the Government from April 2021 it allows eligible tenants who occupy grant funded eligible properties to purchase their social or affordable rented on Shared Ownership terms.

Rough Sleeper Accommodation Programme 2021 to 2024

A programme providing capital and revenue funding to deliver additional units of longer-term, move-on accommodation and support services for rough sleepers across financial years 2021 to 2024. The programme was launched in March 2021. Refer to chapter 3, Specialist Homes for more information. See also the Next Steps Accommodation Programme (NSAP).

Rural Housing

Homes England defines rural housing as being affordable housing delivery in settlements with a population of below 3,000. See Protected Areas and Protected Areas Repurchase.

Scheme Development Standards

A set of design standards published by Homes England setting out the essential and desirable standards for grant-funded property acquired or developed by the provider. Applicable to schemes that received allocations under the 2004 to 2006 and 2006 to 2008 programmes.

Section 106 Agreement

A contract entered into by a local planning authority and a property developer under section 106 of the Town and Country Planning Act 1990. A developer agrees to provide defined facilities, such as affordable housing, as part of the proposed development. Such planning obligations are often used as a legally binding agreement between a local authority and developer to deliver additional affordable housing within a development.

Secure legal interest

For Homes England鈥檚 affordable homes programmes refer to the relevant Grant Agreement for a definition of secure legal interest (see 鈥楧efinitions鈥� section of the agreement). Examples of Homes England Affordable Homes Programme 2021 to 2026 Grant Agreements can be found in chapter 6 Programme Management and in Grant Agreement examples for the Affordable Homes Programme 2021 to 2026.

In addition, refer also to section 3 of Chapter 10, Finance for an explanation of what we mean by secure legal interest for the Shared Ownership and Affordable Homes Programme 2016 to 2021 and the Affordable Homes Programme 2021 to 2026.

Please note, the definition of secure legal interest is different for each programme.

Self Build

Self Build refers to a housing development for outright sale undertaken by a mutual co-operative Self Build Group, with sale permitted only to members of that group. This was a historical Housing Corporation funding stream under the National Loan Fund.

The term self-build refers to funding to a provider for Affordable Rent or Affordable Home Ownership under Homes England鈥檚 Affordable Homes Programme (where such schemes are defined as eligible under the terms of the particular programme). The provider seeks funding for the product in the normal way, but the construction is undertaken by self-builders instead of by a commercial house builder. The self-builders鈥� physical contribution to the construction is reflected in what is referred to as 鈥榮weat equity鈥�. The 鈥榮weat equity鈥� can then be offset against an equivalent 鈥榮hare鈥� in a shared ownership property, or the first option on any property developed for Affordable Rent.

Shared Housing

Residential accommodation other than in separate and self-contained premises.

Shared Ownership

Housing sold on a part rent/part sale basis. The shared owner buys a percentage of the property, funded by a mortgage and/or savings. The remaining percentage is still owned by the developing organisation who charges rent on it. Shared Ownership is the brand name for this tenure replacing Help to Buy: Shared Ownership New Build HomeBuy. Please see Protected Areas, Protected Areas Repurchase and Rural Housing.

Shared Ownership and Affordable Homes Programme 2016 to 2021

Homes England鈥檚 previous main funding programme for affordable housing for 2016 to 2021, which aimed to increase the supply of new affordable homes in England. It included funding for Help to Buy: Shared Ownership, Rent to Buy and Specialist Rent homes for older, disabled or vulnerable people The programme is closed to new funding but completions expected to end March 2023.

Short Form Agreement (SFA)

A shortened form of the affordable housing delivery contract for Private Registered Providers who wish to deliver nil grant Affordable Rent schemes outside of receiving an allocation of grant from Homes England. A SFA was necessary where a provider intends to deliver Affordable Rent as part of a section 106 agreement without new Homes England funding or where such schemes are brought forward voluntarily, without a section 106 agreement or new subsidy as it is a legislative requirement under the Housing and Regeneration Act 2008.

A SFA is only for new supply Affordable Rent schemes on these terms and does not permit conversion of existing stock which can only be supported as part of a new supply contract with Homes England. Note: the SFA was used for historic affordable homes programmes prior to the Shared Ownership and Affordable Homes Programme 2016 to 2021. Refer to the Housing for Rent chapter for more information regarding providers seeking to charge Affordable Rent for new homes delivered outside a Homes England investment programme.

Short Life project

Property brought into short term use for a period of between 2 and 10 years which was not owned by the provider prior to such use and which otherwise would have remained vacant. Last funded in 2004.

SME (Small to Medium-sized Enterprises)

See Low Medium Volume Builder (LMVB).

A voluntary scheme introduced in April 2006 to allow Registered Providers and local authorities to dispose of their rented housing at a discount, which is linked to the Right to Acquire discount in the local area, to secure tenants to purchase either outright or on Shared Ownership terms.

Accommodation for below market rent and affordable home ownership as defined by sections 68 to 70 and 77 of the Housing and Regeneration Act 2008. Aimed at people whose housing needs are not met by the market.

Capital grant provided by Homes England to fully or partially fund Registered Providers when developing social housing as defined within the Housing and Regeneration Act 2008. Social Housing Assistance is paid under section 19 (6) of that Act and replaces Social Housing Grant paid under section 18 or section 27A of the Housing Act 1996.

Capital grant provided by Homes England to fully or partially fund Registered Providers who were formerly Registered Social Landlords or those paid via a Grant Agreement (see definitions above) when developing social housing, under section 18 or section 27A of the Housing Act 1996. It replaced Housing Association Grant, a similar capital grant paid under previous legislation. Since 1 April 2010 allocations of capital grant have been paid as Social Housing Assistance (see definition above).

See Regulator of Social Housing.

Social Rent is low cost rental social housing that is made available at rent levels based on a formula set by the Government, which calculates a 鈥榝ormula rent鈥� for each property using property values and local earnings. Formula rents are exclusive of any service charges. You can find more information in the Government Policy statement on rents for social housing and the Regulator of Social Housing Rent Standard.

Specialist Housing

Specialist housing is housing for older, disabled and vulnerable people. This type of housing can be either purpose-designed or designated with support (or access to support) provided as required, or offer designated accommodation for a specific client group, within the set of client groups stated in the Capital Funding Guide, Specialist Homes chapter, but without offering support services. Specialist housing can be delivered through any of the affordable housing products funded by Homes England.

Start on Site

The milestone recording the start of a scheme, including where appropriate the payment of the first tranche of grant, The start on site milestone is triggered by the building contractor taking possession of the site or property, and the provider and builder having both signed the building contract and start on site works have commenced. For details of start on site works, please see the Finance 3.4.3 and 3.4.4.

Supported Housing

Supported Housing (also referred to as Specialist Housing) is accommodation provided for a specific client group to enable them to adjust to independent living or to enable them to live as independently as possible. The term supported housing applies to purpose-designed or designated supported housing. See Specialist Housing for Older, Disabled and Vulnerable People for definitions of supported housing and housing for older people.

Sustainable Development

Development that balances the environmental, social and economic needs of the present generation, without compromising the ability of future generations to meet their own needs.

188体育

Cookies on 188体育

16. Glossary

A, Show

Accounting Period

Acquisition

Affordable Housing

Affordable Homes Programme 2021 to 2026

Affordable Homes Guarantees Programme

Affordable Home Ownership

Affordable Rent

Arm鈥檚 Length Management Organisation

B, Show

Brownfield land (or 鈥榩reviously developed land鈥�)

C, Show

Care and Support Specialised Housing Fund

Charitable Incorporated Organisation

Code for Sustainable Homes (CSH)

Compliance Audit

Compulsory Purchase Order

Continuous Market Engagement (CME)

Cost Floor

(The) Corporation

D, Show

Deemed Loan Debt

Department for Levelling Up, Housing and Communities

Designated Protected Areas

Designated Protected Areas Repurchase

Disabled Facilities Grant

Disposal

Disposal Proceeds Fund

Dwelling

E, Show

EcoHomes

Empty Homes Programme 2012 to 2015

Estate Renewal Challenge Fund (ERCF)

Existing Satisfactory Purchase

F, Show

Final Cost

Framework Delivery Agreement

Flexible Tenure

Fundamental Clauses

G, Show

Grant Agreement

Greenfield land/site

H, Show