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CLG Committe announce housing finance enquiry

The Communities and Local Government Committee has announced plans to launch an inquiry into the financing of new housing supply.

The broad based enquiry will consider public and private sector, taking in mortgage finance, social and affordable housing while concentrating particularly on the government’s affordable rent policy and its reduction in grant funding.

It is now inviting written submissions to address the following issues:

  •          How and where the more limited capital and revenue public subsidy can best be applied to provide the biggest return on the investment, in housing supply terms;
  •          What the role is of state lending or investment, as opposed to grant funding, and the appropriate balance between them;
  •          What the role is of the public sector in providing support in kind—for example land or guarantees—as opposed to cash, and what the barriers are to this happening;
  •          How long-term private finance, especially from large financial institutions, could be brought into the private and social rented sectors, and what the barriers are to that happening;
  •          How housing associations and, potentially, ALMOs might be enabled to increase the amount of private finance going into housing supply;
  •          How the reform of the council Housing Revenue Account system might enable more funding to be made available for housing supply;
  •          How effective the Government’s ‘Affordable Rent’ proposals are likely to be in increasing the funds available for new housing supply, and how sustainable this might be over the medium to long term.

Submissions are invited by 21 October and should be sent to clgev@parliament.uk and marked “New Housing”.

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