Affordable homes funding released

Communities Secretary Sajid Javid has unlocked £7 billion for the government’s affordable housing programme to meet the diverse housing needs of the country.

Housing providers care now able to apply for a share of the fund, which was allocated an additional £1.4 billion at the Autumn Statement to deliver 40,000 new affordable housing starts across the country.

The government is also expanding the tenures available in the existing affordable homes programme to include Affordable Rent, Shared Ownership and Rent to Buy.

It is hoped that the £7 billion programme will deliver more than 200,000 homes.

Javid said: “Our newly expanded affordable housing programme, turbo-charged by a multi-billion pound investment, will allow housing associations to build more homes in places where they are most needed, particularly for families who are just about managing.

“By encouraging the delivery of more homes under a variety of tenures, we can create a housing market which truly works for everyone, meeting the diverse housing needs of this country.”

Housing Minister Gavin Barwell added: “Up and down the country we are investing more in affordable housing to help make the dream of home ownership a reality for thousands more tenants.

“This includes opening up the housing market to younger people and providing decent, affordable homes for rent for those who cannot afford to buy.”