housing finance conference peter marsh chief executive 19 march 2009 l.
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Housing Finance Conference Peter Marsh Chief Executive 19 March 2009 Our purpose? We are here to raise the standard of services for tenants : to champion the needs and aspirations of tenants - both those within and those as yet unable to access affordable housing

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Presentation Transcript
our purpose
Our purpose?

We are here to raise the standard of services for tenants:

  • tochampionthe needs and aspirations of tenants - both those within and those as yet unable to access affordable housing
  • to challengeproviders of affordable housing services to meet or exceed the highest standards of organisational effectiveness and service delivery
  • to promotechoicefor tenants and providers of affordable housing
our timeline
Our timeline?
  • December 2008: New regulator established
  • Jan - March 2009: “National Conversation”
  • Spring 2009: Informal consultation
  • Autumn 2009:Statutory consultation
  • December 2009: New powers for RSLs (Subject to timing of ‘orders’)
  • April 2010: New powers for LAs and ALMOs
national conversation what tenants have told us
National Conversation: What tenants have told us
  • Polarised views on landlord performance
  • Repairs & Maintenance, rents and good quality homes are the big priorities
  • Keeping your promises is important
  • Opportunities for involvement
  • Mixed views on choice
regulatory style
Regulatory style?

Proportionate

Confident, intelligent

Tenant focused

Co-regulatory

Partnerships

january 2009 quarterly survey finance markets
January 2009 Quarterly Survey – finance markets
  • The sector has £53.1bn total loan facilities in place, £39bn of these are drawn
  • There is £28.2bn of security in place to cover the un-drawn loan facilities
  • Over the next 12 months the sector plans to draw down a further £5.6bn of debt, £5.2bn of this is already in place
  • 87% of respondents said they had loan facilities in place that could fund their business plans for at least 12 months
financial fundamentals
FinancialFundamentals

The most successful PFI in Europe?

  • Asset values are based on continuing existing use and represent a discount relative to market value. Private finance ranks above SHG – providing a further substantial cushion for lenders
  • Two thirds of rental streams are backed by the state via housing benefit
  • New supply is funded by social housing grant
  • Demand continues to outstrip supply by between 50-100%
  • This sector is resilient and able to withstand a further period of downturn
questions choice
Questions: Choice
  • Sometimes the big things, sometimes the little things
  • - Paying more for extras
  • - Information
  • - Rationalisation
  • - Those who can’t get in
  • - Developer, owner, manager – which for you?
questions needs of tenants
Questions: Needs of tenants
  • Social rent
  • Intermediate rent
  • Shared Ownership
  • Shared Equity
  • Are we as clear as we should be about why we use our resources to subsidise differing needs?
questions efficiency gains
Questions: Efficiency Gains
  • £9 billion spent on management and maintenance:
  • What could this total be with a more rational stock holding?
questions opportunities
Questions: Opportunities
  • How will we look back at this moment -
  • Opportunities to take or leave:
  • Unsold stock; Impairment; Hard ball banks
  • or
  • Low cost of long-term money; low land prices; flexibility?
working in partnership to deliver
Working in partnership to deliver

Tenants

Delivering better

services to

tenants

Landlords

TSA