Stock transfer opportunities
With the long awaited revised stock transfer guidance for Local Authorities now imminent, local authorities and Registered Providers should consider whether this provides an opportunity to put new energy into stalled regeneration programmes or new investment in poor stock.
Although stock transfers have been on hold since self-financing was introduced in April 2012, they are likely once again to become an option for delivering the housing service.. Even under self-financing, Local Authorities are still constrained by the borrowing cap, and may be looking for an alternative way of bringing in additional investment to the housing stock. As the government is likely to require transfers to be based on the self-financing debt and hence the decent homes standard, the only way to provide real additional benefit to a transfer may be through transfers to an existing Registered Provider. There are therefore opportunities for Registered Providers to consider either a whole stock transfer of a Council’s stock (Large Scale Voluntary Transfer) or an estate based transfer, if there are particular estates within your area which require additional investment. They key will be for Local Authorities and Registered Providers to work innovatively in partnership to deliver the best possible housing service in each estate/district. And to look at options that increase overall levels of investment and long term solutions for those estates.
When the consultation document is issued, it is likely to have a six week consultation period ending in early September. Don’t miss your opportunity to comment on the proposed guidance.
Altair will be issuing an ebulletin special on the stock transfer guidance and hosting a discussion meeting in September for interested Local Authorities and Registered Providers where ideas can be discussed with Government housing officials, HCA, GLA and Altair’s experts in this field. Please contact us here if you are interested in attending or finding out more.
Contact Liz Anderson or Colin Woods for further advice on transfer opportunities.
Liz Anderson – 07833 469476 and email: firstname.lastname@example.org
Colin Woods 07521 857359 and email email@example.com