We need more and better homes in Lambeth. Homes for Lambeth will mean the council can build these much-needed homes at council rent, intermediate rent and market-rent levels with options for long tenancies and stable rents. Homes for Lambeth is a new group of companies which will be wholly owned by the council.
Homes for Lambeth will also to sell and rent privately which will pay for the new and better homes. It will also allow the council to reinvest the 15-20% development surplus that private developers normally make into the borough.
The way Homes for Lambeth will be structured puts its governance firmly within the council’s democratic structures. A new ‘Ownership and Stewardship Committee’ will be created. All decisions made by the cabinet will be based on recommendations from this committee and will be subject to the normal checks and balances of the council’s constitution. The committee will
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