Letter to the editor: Open letter to MP on West of Ifield and Homes England's proposed national housing bank subsidiary
Dear Peter Lamb MP: I am writing to seek your assurance regarding the proposed National Housing Bank (NHB), to be delivered through Homes England, and its potential involvement in large strategic sites such as West of Ifield.
As you know, West of Ifield represents a substantial land position with significant projected capital exposure. With the Local Plan examination currently unsettled and the exploratory meeting recently cancelled, this strategic allocation remains under active procedural scrutiny.
In these circumstances, there is understandable concern locally that public finance mechanisms could be used to de-risk or underwrite a development whose planning status is not yet resolved.
This is not an objection to public investment in housing per se. It is a question of governance and sequencing.
It would be helpful to understand:
- Whether the National Housing Bank intends to provide debt, equity or guarantee support to sites that have not yet been confirmed through a sound and adopted Local Plan;
- What safeguards will be in place to ensure that public capital is not exposed to speculative land risk before planning legitimacy is established;
- Whether parliamentary scrutiny, including Treasury or Public Accounts Committee oversight, will review the NHB’s investment criteria in advance of operational launch.
Given the scale of potential exposure and the importance of maintaining confidence in both the planning process and public finance, I believe clarity on these points would be in the public interest.
I would be grateful if you could confirm what discussions, if any, have taken place between your office, Homes England, and Ministers regarding the possible application of NHB financing to West of Ifield.
Thank you for your attention to this matter. I look forward to your response.
Richard W. Symonds MCIPD
The Ifield Society
Ifield Street, Ifield Village
Crawley West Sussex