Local Conservatives Increase Supply Of Affordable Homes Through Creative New Schemes

Part Of Our local Conservatives’ Commitment to Supporting Our Communities

As the only London Borough straddling both sides of the River Thames, with 57% of the Borough designated protected green space and high land values Richmond presents many challenges for the provision of affordable housing.

This means the Conservative administration has had to be very creative to find new ways of delivering more affordable homes. As an example the Cabinet has recently approved a new affordable home shared ownership scheme targeted to support local people on relatively low incomes, who currently are not able to access home ownership, through the provision by the Council of an interest free equity loan of up to £75,000.

Cabinet Member for Housing Cllr Mark Boyle said, “In addition to the new Affordable Housing Shared Ownership equity loan scheme we have allocated over £18 million in our Housing Capital Programme for 2016-2021 to support further affordable homes delivery.

“We are also reserving some of our own land for disposal for 100% affordable housing with a number of sites currently either with planning permission or under consideration.

“I am proud of the innovative new solutions we have come up with and we will continue to seek to  maximise partnership opportunities and explore innovative ways of delivering affordable housing for our residents.”