Under the Affordable Homes Programme 2021-26, Homes England is committing almost £5.2bn in affordable housing grant to 31 strategic partnerships.

Vistry is one of the new private sector partners bagging £83m to build nearly 1,500 affordable homes. Retirement specialist McCarthy & Stone and new modular housing entrant Legal and General are also among the new faces securing direct funding.

Homes England’s strategic partners will deliver nearly 90,000 grant-funded affordable homes across the country. London has decided its own extra £3.46bn funding allocations focused on councils and housing associations to deliver nearly 30,000 affordable homes over the next five years.

It is the first time that councils and for-profit providers have been able to access strategic partnership funding after a change to the rules that previously allowed only housing associations to apply.

Peter Denton, chief executive officer at Homes England, said:   “These strategic partnerships give our new partners the funding, flexibility, and confidence they need to build much needed affordable homes across the country, it also establishes a large network of organisations looking to share their skills and capabilities to expand the affordable housing sector and transform communities.

“By forming strategic partnerships with a wide range of public and private organisations, we are creating the conditions needed for institutional investment to catalyse affordable housing supply and in future give local authorities more of the tools they need to plan and act strategically, shaping their communities and building new homes.”