The Affordable Homes Programme is a grant funding initiative administered by Homes England, the non-departmental public body responsible for housing delivery in England, which provides capital subsidies to registered providers of social housing for the development of new affordable homes. It was first established in 2006 under the Housing Corporation, whose functions were subsequently transferred to the Homes and Communities Agency under the [Housing and Regeneration Act 2008](/wiki/housing-and-regeneration-act-2008). The programme operates across a range of tenures including social rent, affordable rent, and shared ownership, and is widely regarded as the principal mechanism through which central government funds below-market-rate housing in England.