Bids to open soon for £500 million small housing Government funding

Houses under construction. Photo: Evelyn Simak
Houses under construction. Photo: Evelyn Simak

Over £500 million pounds of new Government investment for smaller housing schemes will help build up to 15,000 homes and support thousands of jobs in construction, housing minister Kris Hopkins has announced.

 

The £525 million Builders Finance Fund is intended to accelerate construction on smaller sites. Expressions of interest for the fund, to include investment proposals outlining the delivery plan, can be submitted to the Homes and Communities Agency from mid May.

 

The new investment will be made available to unlock “shovel ready” sites of between 15 to 250 houses, which have their plans in place and the support of local people, but need help to get development under way. Focus on smaller schemes is expected to benefit smaller firms who typically build on these sites.

 

A prospectus has been published to help housebuilders prepare their bids.

 

Mr Hopkins said the collapse of the unsustainable housing boom in 2008 had devastated the construction industry, leading to the loss of 250,000 jobs and a falling market share for the nation’s smaller builders.

 

“This funding will get workers back on site, support 15,000 jobs across the construction industry, and build thousands of new homes for communities up and down the country, he added.”

 

The investment will fund locally supported housing. Applicants should have the support of the local community and local authority. Sites must have outline planning consent in place when they submit their bid and must confirm that residential properties financed through the fund will be marketed in the UK.

 

Support through the Builders Finance Fund will be on top of £1Bn that has been made available to unlock 250,000 homes on large scale developments with over 1,500 units. This scheme is currently open for bids.

Please rate

Comments 

Ctrl + Enter

Most Read

IR35 coming to the private sector in 2020

IR35 coming to the private sector in 2020

Due to changes introduced in the Autumn Budget, from autumn 2020, off-payroll working rules which have only been applicable to the public sector will be also implemented in the private sector as well. What this means, is that the end client (hiring manager) of a worker will now be in the position

Engineering in the UK: Outlook for 2019

Engineering in the UK: Outlook for 2019

Between 2015 till date, engineering has grown exponentially in the United Kingdom (UK) and Europe as a whole. This growth in the range of a 6% rise in number of UK engineering enterprises within the past couple of years has gone on to prove just how relevant to the economy engineers and the science

Updates on the HS2 project

Updates on the HS2 project

In our modern world where a good transportation network and an effective communication system are two important factors necessary for the growth of any community, the need for more accessible cities which cater for these needs optimally while also taking into consideration, the economic side of

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.