More than £1bn unlocked to build new homes

Aaron Morby 9 years ago

Twenty five housing associations have taken up the Government’s affordable housing guarantee to prepare a pipeline of nearly 9,300 homes.

The Government’s affordable housing guarantee is now committed to just over £1bn of new housing schemes. A further £2.5bn of supported loans is still waiting to be drawn down UK-wide.

The system of guarantees allows housing associations to borrow money for new affordable housing at very competitive rates, underpinned by the government as a debt guarantor.

Family Mosaic, First Wessex and Devon & Cornwall Housing will deliver over 2,000 new homes using the funding help.

Borrower Guaranteed sum Units Location
Adactus £27.0m 311 Northwest
Catalyst Housing £50.0m 333 London & SE
Coastline £32.0m 347 Cornwall
Devon & Cornwall £85.0m 855 Devon, Cornwall
Family Mosaic £100.0m 679 London & SE
Festival £50.0m 579 tbc
First Wessex £88.0m 589 Wessex
Gateway £15.0m 117 tbc
Great Places £50.0m 667 Manchester
Grŵp Cynefin £10.0m 75 Wales
Hexagon £15.0m 92 London
Home Group £61.0m 668 Nationwide
Home Scotland £12.0m 147 Scotland
Mount Green £10.0m 74 Surrey
Network Stadium £80.0m 440 London
New Gorbals £6.7m 118 Glasgow
North Devon £8.0m 66 North Devon
Notting Hill £80.0m 531 London
Nottingham £30.0m 331 East Midlands
Paradigm £65.0m 585 Buckinghamshire
Riverside £35.0m 401 Nationwide
Selwood £25.0m 251 tbc
Sentinel HA £37.0m 296 Hampshire
Wales & West £25.0m 254 Wales
Westcountry £20.0m 227 tbc
Worcester £20.0m 223 tbc
Total £1.04bn 9266

Housing Minister Brandon Lewis said: “The government’s strong economic record is unlocking more than £1bn for sensible borrowing at rates well below the market average.

“This funding is helping to build 9,000 homes across the UK, on top of the 200,000 affordable homes already built since 2010.”

The Affordable Housing Guarantee Scheme is one of several measures the government has taken that have got Britain building.

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