Ashley House welcomes move on supported living benefits
Source - SMW
Ashley House has welcomed Prime Minister Theresa May announcement in Parliament yesterday that the the Government was set to drop its plans to cap housing benefit in the supported living sector to Local Housing Allowance rates.
The company said these rates were substantially below the level of rent and service charge to make supported living schemes viable.
And it said this change should therefore enable the company to unlock many schemes in its large Housing pipeline, predominantly in extra care.
Chief executive Antony Walters said: 'The threat of the LHA cap on supported housing has stifled development and investment in the sector and put many of our important pipeline schemes on hold.
'Subject of course to Tuesday's Government paper on the future of Supported Housing not holding any further unwelcome catches, the company is now able to push forward on these schemes enabling hundreds of vulnerable people, particularly the elderly to receive suitable housing with care provision.
'As we said in our statement last month, the Company continues to look to extend and widen its financing options to enable it to invest in the pipeline as it accelerates.'
At 8:21am: (LON:ASH) Ashley House PLC share price was +0.88p at 7.13p