Providing more homes for rent during the credit crunch: The Homes and Communities Agency's National Clearing House programme
In the summer, the Government announced plans to bring unsold private sector developer stock into the affordable housing sector by providing £200 million funding through the then Housing Corporation's affordable housing programme.
To facilitate this, the Housing Corporation set up the National Clearing House to streamline the approval process for house builders. This enables house builders to put forward offers to sell their unsold stock for use as affordable housing and receive early feedback on whether their properties are suitable for purchase.
Bloor Homes and Sanctuary Group, who were represented by Wragge & Co, successfully completed the first major acquisition to go through the National Clearing House last month. Sanctuary will buy 336 properties across 19 sites, with completion being staggered as units are finished.
Mark Blair, associate, +44 (0)121 685 2863, firstname.lastname@example.org
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