Heylo Housing names ex-Labour minister Nick Raynsford as chair as it highlights pipeline

Heylo Housing has appointed former Labour minister Nick Raynsford to chair its registered-provider operations, which aims to direct 拢1bn into shared-ownership projects by 2020.

The firm, which specialises in enabling part-buy, part-rent agreements, said its just-acquired status as a registered-provider of affordable housing would pave the way for 鈥渢he largest shared-ownership delivery programme in the UK鈥�.

Heylo currently has a range of support programmes involving both new-build and pre-owned homes that helped individual purchasers and local authorities looking to deliver affordable housing through Section 106 planning gain deals.

Raynsford, who served as housing and planning minister in Tony Blair鈥檚 first government but stood down from parliament at the 2015 General Election, said the housing crisis was one of the biggest issues facing the country today and that shared-ownership could help improve the situation.

鈥淗eylo has the resources and expertise needed to make a significant contribution to tackling this challenge,鈥� he said.

鈥淚鈥檓 looking forward to working with Heylo to bring ownership into reach for the many in 鈥榞eneration rent鈥� who want to own.鈥� 

Heylo chief executive Nicholas McAlpine-Lee said demand for shared-ownership opportunities far outstripped supply and that the business, which is a joint venture with Lancashire County Council Pension Fund, aimed to 鈥渉elp bridge that gap鈥�.

鈥淧ension fund investment represents a major opportunity to vastly increase the number of shared ownership homes in the market,鈥� he said.

鈥淥ur goal to bring 拢1bn of institutional investment into this sector by 2020 is both transformational and achievable.鈥�

Heylo said it was is already active in over 100 local authorities and is working with seven of the top 10 housebuilders to fulfil their S106 commitments on new-build sites.

 

Topics