Form

Apply to be an Investment Partner for the Affordable Homes Programme and associated affordable housing programmes

Updated 30 April 2024

Applies to England

You must qualify for Investment Partner status to able to receive funding from Homes England under the Affordable Homes Programme (AHP) 2021 to 2026 and associated affordable housing programmes.

Your application must be linked to a bid for affordable housing funding.

Who can apply

You can apply for Investment Partner status if your organisation is a:

• charity
• community organisation
• housing association
• housing developer
• local authority

Apply as a single legal entity or consortium

You can apply as a single legal entity or as the lead member of a consortium.

A single legal entity can be a:

• single organisation
• special purpose vehicle (SPV) – an incorporated company set up by 1 or more organisations for a specific purpose
• joint venture company (JV) or partnership – an association of 2 or more organisations for a specific business purpose

A consortium of organisations is a group of companies or separate legal entities acting together for a specific purpose.

Identify the applicant organisation

If you’re applying with other organisations, you should identify an ‘Applicant Organisation’ that will co-ordinate the application and completion of the application form.

For SPV or JV applications, the Applicant Organisation should be the principal shareholder or member.

For consortium applications, the Applicant Organisation should be the lead member of the consortium.

For Almshouse consortium applications, the Applicant Organisation and lead member of the consortium should be the Almshouse Consortium Limited.

The Applicant Organisation is responsible for:

• making sure the information supplied in the form is accurate
• providing any necessary supporting information from other participating organisations

When to apply

You must apply for Investment Partner status at the same time as you submit a bid for affordable housing funding.

We’ll only assess your application for Investment Partner status following a submission and assessment of your affordable housing bid.

Check you’re eligible to be a partner

If you’re planning to be the landlord of low-cost rental homes built with affordable housing funding, by law you must be a Registered Provider of social housing. This means you have registered with the Regulator of Social Housing (RSH). Registration can take at least 6 months.

As a Registered Provider, you must be compliant with all regulatory standards set by the RSH in order to be eligible to receive affordable housing funding. The RSH must not have put your regulatory status under review nor determined it to be non-compliant when you apply to be an Investment Partner. If your application is successful, any such action subsequently by the RSH is likely to prejudice your continuing status as one of our Investment Partners.

If you’re a local authority, when you apply to be an Investment Partner or while you’re a qualified partner, you must not be subject to a:

• section 114 report issued pursuant to the Local Government Finance Act 1988 (S114 Report); or
• section 15 direction from the Secretary of State for Levelling Up, Housing and Communities issued under Part I of the Local Government Act 1999. (S15 Direction)

Complete the Investment Partner application form

The Investment Partner application form has 4 sections:

• section 1: applicant information
• section 2: statement of good standing
• section 3: financial and commercial standing
• section 4: managing development

You must complete all sections, unless you’re a Registered Provider or a local authority – in which case, you don’t need to complete section 3. This is because:

• Registered Providers have already supplied information about their financial and commercial standing to the RSH
• local authorities are exempt

Section 1 – applicant information

The Applicant Organisation should complete section 1.1.

If you (the Applicant Organisation) are part of an SPV, JV or consortium, ask all other participating organisations to complete a copy of section 1.2.

Sections 1.1 and 1.2 include confirmation statements for Registered Providers and local authorities. Tick all statements that apply.

Section 2 – statement of good standing

Section 2 includes a statement of good standing. This confirms certain things about participating organisations – for example, that they have the full power and authority to enter into an agreement with Homes England under AHP 2021 to 2026 or associated affordable housing programmes.

We need to receive a signed copy of this statement from:

• the Applicant Organisation
• all other participating organisations in an SPV, JV or consortium

Each organisation must:

• present the statement on their headed paper
• get a director, partner or equivalent to sign the statement by hand (a ‘wet signature’)
• scan their statement so that the Applicant Organisation can email it to us with the completed application form
• answer the questions relating to court cases, regulatory judgements and health and safety investigations. The statement on secured borrowing relates to Homes England grant stewardship options in the context of any future regulatory actions from the RSH.

Section 3 – financial and commercial standing

You must complete this section unless you’re a Registered Provider or local authority.

It includes a checklist of financial information you’ll need to supply with your completed application form. Our Financial Due Diligence Team uses the information you supply to review your financial and commercial standing.

If you’re applying as a single organisation, complete sections 3.1 and 3.2.

If you’re part of a consortium, SPV or JV, complete sections 3.3 and 3.4. You’ll need to supply financial information about all members, unless they’re a Registered Provider or local authority.

Section 4 – managing development

Section 4 tests your technical ability to deliver capital projects and manage the associated risk. Some questions refer to the new development you plan to deliver with the affordable housing funding.

If you’ve chosen a contractor or developing agent to build the new development on your behalf, you should refer to their experience in your response.

If you’re part of an SPV, JV or consortium, you can refer to the experience of any participating organisation.

Section 4 asks for up to 3 recent case studies (developed in the last 5 years) that show your expertise and track record of development schemes – or that of your appointed third party. All case studies should relate to developments that have reached practical completion.

You should refer to the case studies to help demonstrate your experience in developing homes. You should include the case studies within the text of the form.

Submit the application form and supporting documents

The Applicant Organisation should email the completed form and supporting documents to [email protected]. Marketing materials are not required and should not be submitted.

Your supporting documents must include a signed copy of the statement of good standing on headed paper from:

• the Applicant Organisation
• all other participating organisations in an SPV, JV or consortium

You should only provide the information we’ve asked for. Please do not:

• make changes to the structure, formatting or wording of the form
• include a covering letter
• include any statement that could be construed as contradicting or amending the evaluation criteria set out by Homes England
• include other documents or links to external sources (except where expressly required by a section of this form)

If you’re a Registered Provider, by submitting an application you consent for the RSH to share relevant financial information with us on a confidential basis.

Read more about what you agree to when you submit the form.

After we receive your application

Once you’ve submitted your application, we’ll email you to let you know we’ve received it.

We reserve the right to ask for additional information in relation to your application.

Once we’re satisfied you’ve supplied all the information we need, we’ll let you know the result of your application in approximately 8 weeks.

How we assess your application

The information provided in your application form is used to assess your suitability for Investment Partner Qualification. The information submitted in sections 1 and 2 is used to verify and grade your organisation on a pass/fail basis. Where we consider that we need more information to assess your application or your suitability, we will make a request for further information.

The information you submit in section 4 is used to assess your technical expertise against a standard assessment methodology and evaluates your responses for each sub-section that covers:

• your experience and ability to undertake new development.
• how you appoint consultants and contractors to help develop the homes
• your approach to quality and risk management

Along with the satisfactory completion of sections 1 and 2, you must reach a minimum benchmark score in this section to achieve full Investment Partner status.

Please note that applicants that are not Registered Providers are also asked to complete section 3 (Financial and Commercial Standing) which is also assessed on a pass/fail basis.

Investment Partner Qualification Status Limitation

If you are unable to satisfy all of Homes England’s requirements at application stage, Homes England may decline your application or may grant you a limited Investment Partner Status (Status Limitation).

A Status Limitation may be applied to new applicants and to existing Investment Partners either following completion of their annual review (Continuous Qualification) or in response to the issues summarised in the section headed “Homes England’s right to remove or review Investment Partner status” and is at Homes England’s discretion.

By using a Status Limitation, Homes England may limit your access to grant funding in certain respects including (but not limited to):

• programme
• geographical Location
• Delivery Agent/Developer/Managing Agent
• scheme(s)
• sub-product
• payment milestones
• processing route

Circumstances which may result in the imposition of a Status Limitation

Homes England will apply a Status Limitation where it considers it appropriate to do so. Examples include:

• where Homes England considers as a result of reviewing an initial application for Investment Partner status or as a result of a continuous assessment the relevant organisation possesses limited development, management and/or risk management experience, it may for example impose a Status Limitation to confine an award of grant-funding for a specific programme or scheme
• the issue or publication of adverse regulatory judgements or notices, other applicable related findings, e.g. maladministration judgements from other review bodies in respect of Investment Partners and/or actions by Investment Partners (both registered and unregistered) have the capacity to reflect poorly on the reputation of Homes England and its programmes by virtue of its support for that partner with grant funding. In these circumstances we would consider the imposition of a Status Limitation or (depending on their gravity) the removal of the partners Investment Partner status.

If later the matters that resulted in Status Limitation are addressed to Homes England’s satisfaction Homes England may reconsider the award of full Investment Partner status.

Equally, if the issues that resulted in the Status Limitation are not addressed Homes England may at its discretion increase the scope of the Status Limitation or remove Investment Partner Status entirely from that Partner.

The imposition of a Status Limitation after entry into a grant agreement with Homes England is deemed to be a loss or removal of Investment Partner status for the purposes of that agreement which can mean that grant is withheld or withdrawn from the Investment Partner.

If your circumstances change after you’ve applied but before Investment Partner status has been granted

We reserve the right to re-evaluate your application at any time and without notice if there’s a change in such factors including (but without limitation):

• the information you’ve supplied about your organisation or any other participating organisation or statements made
• your working arrangements, if you’re part of an SPV, JV or consortium – for example, because a member is leaving or a new member is joining
• changes to your third-party appointment – for example developing agent
• you become subject to regulatory actions that we consider may be harmful to the reputation of Homes England or it’s grant-funded programmes

If your circumstances change after you’ve applied, you must advise us as soon as possible by emailing [email protected]

Outcome of your application

Once we’ve completed our assessment of your application, we’ll email you a signed decision letter to let you know the outcome. Where applicable this will include details of any Investment Partner Status Limitation.

Continuous qualification for existing partners

Every year we review the performance of existing Investment Partners through our continuous qualification process.

As part of this process, we’ll email you and ask you to respond to such factors we consider appropriate as part of this assessment including (but without limitation):

• confirmation to us of a set of statements relating to your continued good standing and viability
• submission of a new letter of good standing, where required

We reserve the right to ask for additional information in relation to the continuous qualification process. The annual qualification is without prejudice to Homes England’s right to re-evaluate Investment Partner status at any time without notice. This may lead to the imposition of a Status Limitation as set out above or in certain circumstances the loss of Investment Partner status.

If your circumstances change after you’ve qualified

If you’re an existing Investment Partner, you must tell us about any change in your circumstances as soon as possible. This may for example include, but is not limited to, a change in your organisation’s ownership, control, company structure or management, financial circumstances, regulatory status and other circumstances as summarised in the section headed “Homes England’s right to remove or review Investment Partner status” and is at Homes England’s discretion.

If you’re part of an SPV, JV or consortium, you must tell us about any changes you’re planning to make to your working arrangements. For example, you must tell us if a member is leaving your SPV, JV or consortium – or if a new member is joining.

Please let us know about these changes as soon as possible by email at [email protected]

We may need you to complete a new application form for Investment Partner status.

Reapply if your Investment Partner status has been withdrawn or has status limitation

Your Investment Partner status may be withdrawn if you haven’t been active in delivering homes under the AHP. If your status has been withdrawn, we’ll email you to let you know and you can reapply for Investment Partner Status at any time by submitting a new application.

Once you’ve submitted your application, we’ll email you to let you know we’ve received it. We reserve the right to ask for additional information in relation to your application. Once we’re satisfied you’ve supplied all the information we need, we’ll let you know the outcome.

For partners where Status Limitations have been applied, the factors considered as part of the original decision must be resolved before extended Investment Partner status can be awarded.

Homes England’s right to remove or review Investment Partner status

Homes England reserves the right to review and remove an organisation’s Investment Partner status at any time. This right is at Homes England’s absolute discretion. In determining whether to pursue any such removal, Homes England shall be entitled to take into account such factors as it considers appropriate including (but without limitation):

• a breach by the partner of the contractual terms of the grant agreement or Capital Funding Guide
• repeated instances of poor performance by the partner, where Homes England’s requests to remedy have not been acted upon
• the termination of any grant funding agreement with Homes England to which the partner is a party or to which it contributes as a delivery partner
• a change in the financial standing of the partner.
• where the partner is a local authority which has issued a S114 Report or is subject to any S15 Direction.
• failure by the partner to use the grant for the purpose(s) for which it was paid
• where the partner is a Registered Provider and is judged by the RSH to have failed to deliver the outcomes of a regulatory standard and/or is subject to a Regulatory Notice (pre 1 April 2024), a Regulatory Judgement identifying failures to deliver the outcomes of any regulatory standard, an Enforcement Notice, and/or is named on the Regulator’s ‘Grading under review list ’GUR’
• where there is express direction from the RSH in relation to a particular partner that is a Registered Provider
• an act that results, or may result, in reputational harm or damage to Homes England
• a change in control of the partner
• a breach by the partner of legislation, including in relation to bribery, fraud and discrimination.

Your undertaking when you submit the application form

Any false information included in any of the responses will result in exclusion from the subsequent stages of the AHP 2021 to 2026 programme and/or associated affordable housing programmes.

Homes England has a bribery and corruption policy in place and takes a zero-tolerance approach. Read current Homes England ethical policies (including the anti-bribery and corruption policy).

All Applicant Organisations must ensure that they do not and, where appropriate, all other participating organisations in the consortium, SPV or JV do not:

• give or offer any gift or consideration whatsoever as an inducement or reward to any servant of a public body – any such action will entitle Homes England to cancel any agreements concluded with the Applicant Organisation and will result in exclusion from the AHP 2021 to 2026 and associated affordable housing programmes, and, at Homes England’s discretion, any of its future funding programmes
• communicate to any organisation other than Homes England or its own advisers (from whom they shall have secured all necessary guarantees of confidentiality beforehand) the details contained within this application form or within any subsequent submissions to Homes England in connection with the detailed bidding process for the AHP 2021 to 2026
• enter into any arrangement or agreement with any other person the purpose or effect of which is that any party thereto shall:
  • refrain from submitting this application form or any documents relating to the detailed bidding process
  • limit, restrict, vary or adjust the content of this application form or any other document by reference to any other applicant or any other party’s application or bid
• directly canvass any member or official of Homes England concerning the acceptance of this application form or any other document nor obtain nor attempt to obtain any information from any such member or official concerning any other application, bid or submission made by any other party

Freedom of Information Act

Homes England is subject to legal duties which may require the release of information under the Freedom of Information Act 2000 (FOIA) and the Environmental Information Regulations 2000 (EIR) and that Homes England may be under an obligation to provide Information subject to a request for information.

Homes England shall be responsible for determining in its absolute discretion whether:

• any information is exempted information or remains exempted information;
• or any information is to be disclosed in response to a request for information

Homes England may be obliged under the FOIA or the EIR to disclose information:

• without consulting;
• or following consultation and having taken (or not taken, as the case may be) its views into account

Contact us

If you have a question about the Investment Partner qualification process, you can contact us by email: [email protected]