Thriving communities, affordable homes. Helen Towner – Relationship Manager Home and Communities Agency

Thriving communities, affordable homes


Helen Towner – Relationship Manager

Home and Communities Agency


Changes and the CFG

What are the main types of low cost home ownership after the CSR?

How is low cost home ownership delivered? The new role of the HomeBuy Agent and RPs

Branding – first steps and HomeBuy scheme terminology Support available to providers and stakeholders Single agent Discussion


Framework

Framework published Monday - read it!

£4.5bn (£2.3bn existing commitments)

Explains how to bid Comprehensive information on

providers next steps


Affordable home ownership

Can be included in offers where this is a local priority and offers value for money.– Numbers and locations will depend on offers

All under banner brand HomeBuy (First Steps in London) Shared ownership

– Expected to be main aho product

– Unchanged from NBHB

Equity loans– 20% max loan

– Other terms for customers and

lenders unchanged

– No HCA charge


Going forward

Increased number of lenders on board with shared ownership

Delivering more for less…

2012/12 the committed programme…


Current Programme

We still have HomeBuy Direct! Via the Kick Start Programme!

Committed shared ownership Programme Lots of Changes Local HomeBuy Agents – contract changes and

roles What's New? And are you keeping up with the

changes?


How is LCHO currently delivered?

2 stage process

• LHBA accesses all Applications

•Fills out a general LHBA calculator

•Informs the applicant of choice and eligibility

• Issues indicative mortgage amount

•Sends on leads to RP’s sales teams

•Collects data for stakeholders/HCA

• Individual Registered providers receive confirmation of eligibility

• Applies 2nd affordability check/involves IFA

•Maximises share

•Takes reservation

•Manages sales process

•Feeds make data to LHBA on completion


Local HomeBuy Agents

• 5 new contract changes!

•Key performance standards have been reduced to improve the service to customers, stakeholder and the HCA

• A more detailed Marketing plan, targeting priority groups

• A Nil Grant service level agreement with a consistent pricing structure to enhance the offer to customers

• Superior re-sale service to RP’s and customers

•Enhanced role in accessing affordability


Accessing Affordability

3 New Calculators - LHBA – general - Shared ownership- Equity loan

All on the Capital funding Guide now! Detailed guidance available Your Local HomeBuy Agent can help


Branding and Terminology

New Terms Move away from scheme names associated with

the HomeBuy Brand Shared Ownership Equity Loan Rent to Own


Glossary of terms

Circulated to LHBAs Will be circulated to Local HomeBuy

Agents they will send to registered providers

Also circulated through Home Ownership Groups

Looks at brand Guidelines in and out of London


HCA operating areas

An umbrella brand for LCHO in England, excluding London

All LHBAs retain their individual identities Any marketing for grant funded LCHO should

include this logo Not just the LHBA responsibility Should be on all websites Brand guidelines available


London

Umbrella brand for the Greater London area Same generic scheme names, e.g. shared ownership Same rules Apply – all RP’s should use this logo on marketing Why?

– Key policy commitment– London Housing Strategy – ‘Raising aspirations, promoting opportunity’– Support for intermediate market– Increase access– Marketing & awareness raising


Changes to Priority

No Key worker status moving forward More details will be availed via the CFG in the near

future on how to deal with existing KW leases No longer a public sector recruitment and retention

issue

Priorities are now – Existing social tenants – MOD Personnel – Local Priorities


Moving Forward – Support

The Capital Funding Guide – your first port of call www.homesandcommunities.co.uk/affordable-ho

mes

Lots of updates taking place prior to the new financial year

You can sign up to receive changes via email


Shared Ownership New Build HomeBuy has gone as a term Part buy part rent Rent caped at 2.75% first tranche sales Shared ownership lease Usually delivered by registered providers –

ownership is shared Applicants purchase between 25%-75% Applicants income determines share


Equity Loan

Purchaser owns 100% of the title 2nd charge is held by the house builder and HCA 2 schemes HomeBuy Direct 70-30 split – applicant maximise share to 85%


Budget announcement 240million for equity loan scheme FirstBuy 80/20 split 2nd charge split 50/50 by the house builder and

HCA Registered provider’s can apply Prospectus coming out within the next week or

two First round will hopefully be out by July 5000 units 2011/12 5000 units 2012/13 Delivered through Homebuy agents


2012 – Onwards

What does delivery look like? Single Agent discussion paper launched yesterday Available on the HCA’s website www.homesandcommunities.co.uk/homebuy [email protected]


Discussion paper on single agent

Discussion will go on until the 6th May

Procurement exercise Spring/Summer

Look to appoint in Autumn to give time for full handover and business planning


Purpose of discussion paper

Gather views and feedback from HomeBuy Agents, local authorities, providers and other partners.

Soft-market testing of potential bidders (open OJEU compliant process)

Grateful for suggestions of possible forums (HOGs etc.) email to Helen

Does not cover London


Questions?

Documents

Thriving communities, affordable homes. Helen Towner – Relationship Manager Home and Communities Agency