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<p> </p><p>We do not define affordable housing in those terms. The Housing and Regeneration
Act 2008 (sections 68 – 70) defines social housing as low cost rental accommodation
and low cost home ownership accommodation. In the Act, a low cost rent is simply defined
as below the market rate. Low cost home ownership is defined by its availability for
occupation on a shared ownership or equity percentage basis. This provides flexibility
to support a range of people with different housing needs through our affordable housing
programmes.</p><p> </p><p> </p><p> </p><p>For planning purposes, the definition set
out in the National Planning Policy Framework is as follows:</p><p> </p><p> </p><p>
</p><p>“ Social rented, affordable rented and intermediate housing, provided to eligible
households whose needs are not met by the market. Eligibility is determined with regard
to local incomes and local house prices. Affordable housing should include provisions
to remain at an affordable price for future eligible households or for the subsidy
to be recycled for alternative affordable housing provision.</p><p> </p><p> </p><p>
</p><p>Social rented housing is owned by local authorities and private registered
providers (as defined in section 80 of the Housing and Regeneration Act 2008), for
which guideline target rents are determined through the national rent regime. It may
also be owned by other persons and provided under equivalent rental arrangements to
the above, as agreed with the local authority or with the Homes and Communities Agency.</p><p>
</p><p> </p><p> </p><p>Affordable rented housing is let by local authorities or private
registered providers of social housing to households who are eligible for social rented
housing. Affordable Rent is subject to rent controls that require a rent of no more
than 80% of the local market rent (including service charges, where applicable).</p><p>
</p><p> </p><p> </p><p>Intermediate housing is homes for sale and rent provided at
a cost above social rent, but below market levels subject to the criteria in the Affordable
Housing definition above. These can include shared equity (shared ownership and equity
loans), other low cost homes for sale and intermediate rent, but not affordable rented
housing.</p><p> </p><p> </p><p> </p><p>Homes that do not meet the above definition
of affordable housing, such as “low cost market” housing, may not be considered as
affordable housing for planning purposes.“</p><p> </p>
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