To ask the Secretary of State for Communities and Local Government whether arm’s-length management organisations will be able to access the fund to purchase unsold new houses and rent them to social tenants. (208152)

The £200 million announced on 14 May will be used by the Housing Corporation to fund RSLs and others to purchase new properties from house builders.

We are allowing the Housing Corporation flexibility to take advantage of opportunities offered by the current housing market to fund RSLs and others to buy unsold stock from developers at competitive rates with a view to provision of either social rent or low cost home ownership. This will enable RSLs and others to take advantage of the competitive rates offered by the current market as well as helping developers at a challenging time in the new build market.

Some arm’s-length management organisations are already able to bid to the Housing Corporation for funding in competition with other bidders as part of the regular market engagement process through which the affordable housing programme is being allocated. If ALMOs consider they can take advantage of the availability of grant to purchase new properties, the Housing Corporation would consider their applications.