Tenure Variation

The ability to vary a specific tenure mix exists where on site provision of affordable housing might otherwise be compromised. 

Tenure variation can serve to benefit both local authorities and house builders/developers/landowners by ensuring that on site provision is safeguarded on the one hand and value/viability is enhanced on the other.

This can be achieved in a number of ways including: 

  • assessing the overall mix of unit types; 
  • re-addressing the overall number of affordable units provided; 
  • when factors allow, varying a tenure mix to allow for higher proportion of Intermediate units. 

In one of many similar examples since, in 2016, Landspeed secured it’s first variation of the affordable housing tenure mix within a development in Romsey in Hampshire – where the consented provision was for 4 Affordable Rented units and 2 Intermediate.

No Registered Providers could be identified by the developer (Talisman Homes) to deliver the scheme and Landspeed agreed a variation that allowed for all 6 units to be delivered as Intermediate homes – thereby ensuring on site provsion for Test Valley Borough Council and delivering home ownership at affordable prices to local people (while notionally enhancing the value/viability for the developer).

Since that first success, the number of tenure varied schemes has increased to the extent that, by early 2025, almost every live Landspeed development involved a tenure variation. This situation has arisen by virtue of the fact that the RP sector has refocused it’s attention and resources on stock upgrades and other matters.

The failure of the RP sector to deliver tenure compliant schemes has resulted in an almost threefold increase in Landspeed’s annual delivery of affordable home ownership products.