Housing associations [HAs] are independent private sector, not-for-profit bodies that provide rented homes at sub-market rents. They also offer the chance to gain access to homeownership and provide other neighborhood and community services. This has been perhaps the most successful public-private partnership in the UK. Housing associations [HAs] are Lenders to the sector that can take full security against housing assets valued according to a conservative valuation methodology. Private investment facilities in England total £78.5 billion and c. £85 billion across the UK.  There are 1775 HAs managing 2.4 million homes in England. Housing associations [HAs] are likely to remain the main developer of affordable housing in the future.

84% of Housing associations [HAs] turnover comes from social renting sub-market rents. 70% of rents are paid directly to Landlords from Housing Benefit. Housing associations [HAs] also provided homes for low-cost homeownership, principally shared ownership. This helps meet government objectives to extend homeownership. HAs also provided specialist services under the Supporting People program and undertake regeneration and a range of community activities. A minority of HAs are developers of new homes. Development has included homes for social renting, now usually under the Affordable Rent Model, and for shared ownership. The latter provides cross-subsidy for the development of Affordable Rent. HAs also developed homes for open market sales. Due to recent government policy announcements, the development of shared ownership is certain to become proportionately more important, particularly after 2018.