Affordable Housing SPD - Hambleton District Council

9. Acquisition Prices9.1 RSLs are restricted in what they can pay todevelopers for new homes negotiatedunder Policy CP9 by the finance they canraise on the home, and the associated longterm costs of financing the purchase andmanaging and maintaining the property.The maximum rents RSLs can charge mustbe affordable, and intermediate tenurehomes must be sold at a price that isaffordable according to the Council’s ownDP15 definition of an affordable mortgage.To this end, the Council will specify eachyear the maximum price (regardless oftenure) payable by an RSL to a developerfor various standard house types. Thesefigures are a composite of prices paid tosecure both subsidised social rented homes,and affordable intermediate tenure homes.2007 figures agreed with the HousingCorporation (including reasonable on-costsbut excluding Social Housing Grant) arereproduced below to illustrate this. Thesefigures are derived from local income levelsand are not based on a percentage discountof open market values.9.2 Prices will be revised annually and latestfigures will be posted on the Council’swebsite (www.hambleton.gov.uk).Unit typePrice todeveloper1 bed (size - 50m 2 ) . . . . . . . £47,5002 bed (size - 70m 2 ) . . . . . £62,5003 bed (size - 90m 2 ) . . . . . £76,0004 bed (size - 110m 2 ) . . . . £81,00012AFFORDABLE HOUSING SUPPLEMENTARY PLANNING DOCUMENTJune 2008