Affordable housing funding plans announced by housing minister
Kris Hopkins has announced that funding for the building of affordable homes has been brought forward.
Speaking at the Chartered Institute of Housing conference, Mr Hopkins announced that from 1st July housing associations building affordable homes using grants will receive 75% of the grand up front and 25% at completion, reports Inside Housing.
After 31 March 2015, it will go back to the 50/50 split. He said: “This will increase until 31 March 2015 for Communities and Local Government department affordable schemes. Even with the progress that has been made we can do more on housing supply. We’re challenging the housing sector to think differently. We want to make an early start on the next affordable homes programme.”
The housing minister said he was ‘keen’ to help councils increase their supply of ‘long-term, well-managed’ privately-rented accommodation at Local Housing Allowance levels.
“I’m especially interested in working alongside councils about the options available for families for families who are particularly at risk of homelessness,” the minister said.
“I am keen to work with councils to see how we can increase the supply of long-term, well-managed, private-rented accommodation available to council to accommodate homeless individuals at Local Housing Allowance level lets.”
He said councils calling on the government to raise local authority borrowing caps should prove themselves to the Treasury by using the extra £300 million in borrowing powers announced in April to build more homes.
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