According to Inside Housing:

“The council’s £2m a year Housing Affordability Fund will pay for homes for social rent, affordable rent, shared ownership, shared equity, rent-to-purchase and Help to Buy.

This will include new homes and homes acquired from housing associations and the private sector.

The council has been working with housing associations to develop a disposals policy for stock they want to sell and recently set up an investor panel. This panel is made up of private sector partners that can buy homes, refurbish them and either rent them out or sell them to first-time buyers.

The council proposes using part of the Housing Affordability Fund to help the panel buy empty homes and fund grants for homes in low-value areas.

The fund is being pooled from Section 106 payments from developers, Right to Buy receipts including preserved receipts from housing associations, the council’s Housing Revenue Account, and its housing capital programme. The council also plans to use its borrowing powers to provide capital funding and invest some of its land and buildings, potentially at a discounted rate.”