Where your application fails to fully satisfy policy requirements for affordable housing, and the justification is on the grounds of financial viability, an un-redacted affordable housing financial viability assessment will need to accompany your planning application.
The information below provides further details about when an affordable housing financial viability assessment is required, what information this document should include, how to submit it to us, and where you can find further information.
When is an affordable housing financial viability assessment required?
An un-redacted affordable housing financial viability assessment should accompany applications that fail to fully satisfy policy requirements for affordable housing, where the justification is on the grounds of financial viability. This includes applications that fail to fully satisfy policy requirements to provide self-contained housing as part of a mix of uses.
When preparing the assessment, you should remove any personal data you do not want published on our website.
We will arrange an independent audit of your assessment for which a fee is payable. You will need to complete section C of the Independent Audit of Viability form (Word doc) and submit with your application.
What information should be included in an affordable housing financial viability assessment?
The assessment should demonstrate you have maximised provision of affordable housing as far as is viable. The assessment should:
- generate a residual land value,
- include a benchmark land value against which the viability of the development can be assessed,
- include evidence to support all values and costs included in the assessment, including the benchmark land value,
- identify and justify all the assumptions used in the viability assessment model,
- provide a viability assessment model capable of full interrogation by the Council and its advisors.
How do I submit an affordable housing financial viability assessment?
If you apply for planning permission online using the Planning Portal, you will be given the opportunity to upload your affordable housing financial viability assessment after you have completed the relevant application forms. Before uploading any files, please read our guidance notes for submitting electronic files with planning applications.
Guidance notes for submitting electronic files with planning applications (PDF).
If you choose to submit a paper-based application instead, you will need to provide four copies of the assessment along with four copies of the relevant application forms.
Where can I find out further information?
For further information on preparing and submitting an affordable housing financial viability assessment, please see pages 10 to 17 of Camden Planning Guidance CPG2 Housing (amended March 2018) and the London Borough Viability Protocol 2016, which draws together best practice from councils across London, which are available at the following links below:
- Camden Local Plan
- Camden Planning Guidance
- London Borough Viability Protocol
- or contact the duty planner