Mark Prisk Announces New Affordable Housing Fund

Mark Prisk Announces New Affordable Housing Fund

The Department for Communities and Local Government has announced a new Government initiative, an affordable housing fund, which will see up to 15,000 homes for affordable housing 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 Affordable Housing Fund and the New Affordable Homes Programme

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 Affordable Housing Fund 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?

As we know all too well, the UK needs to produce significantly more new homes every year to meet the growing demand. New builds are, of course, a key part of this, and this new Affordable Housing Fund will help. However, developing existing empty homes will not only boost the property market and economy, but make a dent in the number of new homes required.

That’s why we at The House Crowd believe so passionately in what we do. We want to build a better property market in the UK, and we know property crowdfunding is a crucial part of the solution.

Want To Know More?

The House Crowd is a new concept in property investment which allows people to invest small amounts via crowdfunding. For more information on the process, visit our How It Works page.

We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments For more information about us, see Our Manifesto.

If you’ve read enough and want to invest now, visit our Invest in Property page or register by clicking below:

Register Now for more Info

You can also see our full range of current investment opportunities here:

View our Property Investments

Cash “bung” for communities building new homes

Planning Minister, Nick Boles, has signalled an intention to direct up to £650,000 to councils that allow the development of new homes on their unused land. The money will be provided to local authorities by house builders once they receive planning permission.

Mr Boles hopes this innovative proposal might help tackle the UK’s growing housing shortage crisis.

As part of the scheme, local people could stand to receive up to 25 per cent of the money for the improvement and provision of local infrastructure, if plans are supported via a local referendum.

Whilst it’s good to see the Government coming up with new ways to stimulate housing development, our concern with this scheme is that the imposition of an increased tax on house builders might drive up the price of land, thus affecting the provision of less expensive, affordable homes.

At The House Crowd, we think it vital that with an apparent renewed focus on new builds, the Communities Minister’s pledge to ensure that 5,000 empty homes be refurbished to tackle the national housing shortage are not put on the backburner.

The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit www.http://thehousecrowd.com/thehousecrowd//how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments (for more information about us, visit www.http://thehousecrowd.com/thehousecrowd//about/our-manifesto/). If you’ve read enough and want to invest now, visit www.http://thehousecrowd.com/thehousecrowd//invest-in-property/).