Mark Prisk announces new affordable housing fund

The Department for Communities and Local Government has announced a new Government initiative which will see up to 15,000 affordable homes being developed.

As part of the plans, providers of affordable housing in the UK will be able to bid for a share of up to £225 million, subject to meeting the bidding criteria.

The new initiative is based on the existing Affordable Homes Programme and will operate alongside the Government’s Affordable Housing Guarantee, which provides a pledge to underwrite debt for lenders on eligible housing projects.

The House Crowd hopes the new initiative will unlock private finance and help to get spades in the ground and workers on site. However, once again, we must question why the huge numbers of empty homes across the UK are being overlooked in favour of a new build solution?

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