BPF Spotlight Series: Affordable Housing Committee

💡For our latest BPF Spotlight, we spoke with our Director of Policy Ian Fletcher to learn about the Affordable Housing Committee and their efforts to support the sector. Here's what Ian had to say:

❓What’s the remit of the BPF Affordable Housing Committee?

🗣️The committee is one of our newest and showcases growing private sector investment in all forms of affordable housing. The committee articulates the story behind why more private investment is being made in the sector, the benefits that flow, and support that would aid greater investment.

❓Who sits on the committee and who are its key stakeholders?

🗣️The membership is really varied! There’s private and third sector investors, top advisers, lawyers, a BPF Futures member, and some of the largest housing associations – probably the sector’s key stakeholder as partners.

Other stakeholders include MHCLG, Homes England, The Regulator of Social Housing, and key organisations in this space, such as the G15, NHF, CIH, Shared Ownership Council, and LGA.

❓What issues are top of the agenda for the committee at the moment?

🗣️The agenda is effectively led by Chair Rob Beiley of Trowers & Hamlins and Vice Chair Simon Century of L&G, and we try and strike a balance between support for the sector and advocacy.

On support, a few examples are our Code of Governance for the For-Profit sector, which we launched in June, and our toolkit to facilitate better partnerships between the for-profit and not-for-profit sectors.

On advocacy, we’ve engaged extensively over the past year with the Labour Party, and the Housing Select Committee. We’re also looking forward to meeting shortly with Homes England.

❓Looking ahead to the next 6-12 months – what are the key things that the committee are looking out for?

🗣️The Committee has a very positive story to tell. More investment is seeking a strong social purpose, and the Government wants greater affordable homes delivery. Therefore, there’re more opportunities than threats.

We’ll continue to highlight the sector’s potential and the need for affordable housing in all shapes and forms. This includes some parts of the sector that are less understood than others, such as shared ownership. On that, the Shared Ownership Council is doing sterling work and we’ll continue to give them our support.

We’ve also been working with the LGA and recently supported a call for evidence on how institutional investment could support the delivery of affordable housing.

❓If the committee could implement one policy to help the sector, what would it be?

🗣️I will cheat with two!

One: A long-term rent settlement, which would provide the stability and certainty that makes affordable housing an attractive investment. The Government seem switched on to this and are making the right noises.

Two: The delivery of affordable housing also strongly relies on public funding, and if we want to make deeper inroads into a significant affordable housing shortfall, then more funding in the Spending Review is a must.

💡About Ian:

Ian is one of our two Directors of Policy, overseeing the living sectors and our development initiatives. As our longest-serving staff member, having joined in 2002, Ian has been instrumental in expanding our work in the living sectors. His previous experience includes roles as Chief Economist and Head of Policy at the British Chambers of Commerce, as well as a diverse background in teaching and banking.