Affordability Review Terms of Reference
Introduction
The Review will examine the range of mechanisms aimed at securing social housing for rent, growing a quality private rented sector and enabling intermediate households to enter homeownership.
Recommendations for reform will consider a range of issues including:
- Increasing the supply of social and affordable housing.
- Extending use of strategic partnering arrangements.
- Making the market and planning system work better.
- A new framework of simplified low cost home ownership products.
- Making more effective use of existing assets.
- The role of financial services industry in both supporting access to and the sustainability of homeownership.
- Regeneration and housing.
- Local housing strategies.
Objective
The objective of the Review is to consider the range of government interventions in the housing market via the planning and housing systems that increase supply of social housing for rent, support the private rented sector and assist ‘intermediate’ households into homeownership.
Terms of Reference
The Review will:
- Take account of the Shared Equity Taskforce’s assessment of the benefits and risks, for individuals, the housing market, the mortgage market, and the wider economy of enabling homeownership for this group through the use of shared equity products and LCHO schemes.
- Identify whether there are market or state failures in NI holding back development by the private sector of shared equity products for low-income households, together with options for reform if necessary.
- Consider opportunities for further private sector involvement in delivery of social housing for rent and LCHO scheme, making recommendation for reform if necessary.
- Consider how the planning system can support the delivery of social and affordable housing.
- Consider how existing assets can be harnesses to deliver social and affordable houses now and in the future.
- Consider opportunities for strategic partnering.
- Take proper account of the regulatory regime and anticipate how any proposed reforms might impact.
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