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<p>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>The definition of affordable
housing as set out in the National Planning Policy Framework is as follows:</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>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>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>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>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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